Brazilian ethanol is the best hope for replacing oil, says BP's Bob Dudley

The Telegraph
By Robin Yapp, in Sao Paulo 7:03PM GMT 13 Feb 2011

Ethanol derived from Brazilian sugar-cane offers the best hope of replacing oil as the world's main source of fuel when it runs out, according to Bob Dudley, BP's chief executive.

He said Brazilian ethanol is the "best type of renewable energy" and offers the possibility of an "ultrapotent fuel that could revolutionise the market".

BP is channelling its research into renewable fuels accordingly, with 40pc of its $1bn (£625m) annual spend in this area targeted at Brazilian ethanol, Mr Dudley told the weekly Brazilian news magazine Veja.

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