Exxon says advances needed to make ethanol useful

01/28/2007 | Bloomberg

Exxon Mobil Corp., the world's largest energy company, says ethanol is irrelevant to the foreign-oil problem, partly because the fuel still relies on significant subsidies and mandates. "We believe for ethanol to play a more significant role on a larger scale that technological advances are needed on cellulosic," one Exxon official said.

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