Kunstler is an idiot.

Brazil and the US teaming up on ethanol:

U.S. officials said they expect to sign accords within a year that would promote technology-sharing with Brazil and encourage more Latin American neighbors to become biofuel producers and consumers.

This is good news!

Brazil has a pretty good biotech base:

Biotechnology has already fueled growth among Brazil's ethanol makers. Developments of more-productive cane strains over the past three decades have helped the South American country make the biofuel at a lower cost than gasoline. Ethanol cost Brazilian distributors about 37 percent less on average than gasoline last week, the National Petroleum Agency said.

The US is still breaking records for ethanol production:

Once again, U.S. ethanol production continues to reach new levels. The latest statistics from the Energy Information Administration (EIA) indicate that November 2006 production reached a record of 343,000 barrels per day.

November production tallied approximately 431 million gallons, which on an annual basis would equate to more than 5 billion gallons. Ethanol demand for the month averaged 414,000 barrels per day, which is also a record, according to the Renewable Fuels Association (RFA).

Goodbye OPEC.