Oh, and let's keep in mind that factoring in the rest of the world we're talking about far, far more than 100 million metric tons of biomass waste produced annually. We're talking something way up in the billions.
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much of the third world is decapitalized by oil payments...as the price of oil is a regressive tax on business. even in countries like mexico which have lots of oil--oil wealth is centralized--so none but a few benefit from oil production. biomass produced oil would decentralize oil production and redistribute wealth around the globe and stop the process by which oil wealth is concentrated in the hands of a few...many of whom in the mideast can do mischief on a world wide scale.
Oil would immediately become more expensive and investment capital would dry up overnight.