Ag & Energy Report for March 2nd

NEW YORK, NY. — How could we forget what happened with oil and gas prices last year? One analyst says it could happen again this year. Plus, the Ag Secretary urges the bio-fuels industry to think bigger. 

Oil prices could drop again in the second half this year like they did last year. 

The same wall street analyst who predicted the rise in oil after the financial crisis told Bloomberg a supply glut of oil still exists and will for awhile. That, he says, will lead to another drop later this year. Meanwhile, the cheaper gas prices are giving SUV sales a surge. AAA says motorists may have a false sense of security about low gas prices driven by cheap fuel and low interest financing. 

Lawmakers may end tax break for airlines buying jet fuel. 

The Associated Press says Georgia lawmakers are considering the break for airlines that buy fuel at Atlanta’s Hartsfield-Jackson Airport, the world’s busiest. State officials would use the money to pay for aviation related infrastructure improvements. This would hurt Delta the most, which is based in Atlanta. 

Ag Secretary Tom Vilsack sees nearly endless opportunities for bio-fuels. 

The Houston Chronicle says he says growth is moving beyond traditional ethanol. He says bio-fuel companies should embrace exports and an airline industry initiative to use more cleaning burning fuels. 

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