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Anyone who has run the numbers knows, beyond any doubt, that biofuels cannot replace the amount of petroleum we use now - let alone coal and gas. That road leads to skyrocketing prices and massive bankruptcy. It's as if they want the American public to go the wrong way until they collapse under debt and expenses.
The super-wealthy might have some scheme to benefit from this (like becoming a de jure as well as de facto ruling oligarchy?), but it scares me silly.