Oil companies pay $6.8 million in fines for not using cellulosic biofuels that don't exist

Idiotic and byzantine regulations and rules that each and every one of you pay for....

Oil companies will pay $6.8 million in fines for not meeting federal quotas for blending in cellulosic biofuels – those produced from grasses, wood and plants – even though there weren't enough of those biofuels available for use, the New York Times reported. Those fines are likely to rise in 2012 because the cellulosic biofuel quotas that refiners have to meet will rise more than 30 percent to 8.65 million gallons.

Forcing an economy to adopt these silly things is like when the US government forced companies to start using the cancer causing MBTE in fuel that ended up contaminating water supplies. Stupid begets stupid. Pay more and get absolutely nothing for it!

Oil companies pay $6.8 million in fines for not using cellulosic biofuels that don't exist