06/12/2007 (Bangkok Post) – Energy Minister Piyasvasti Amranand warned that a recent decision by the Organisation of Petroleum Exporting Countries (Opec) not to increase production is a signal that prices will remain high unless global demand declines.

Mr Piyasvasti said he was optimistic about the commercial possibilities of biodiesel but the main problem lies within the expected shortage of palm oil after April 2008.

“We are now speeding up the process of planting more palm trees because we really want to get this project going. We want to see B5, or biodiesel, being used across the country as soon as possible,” he said.

His Majesty the King during his annual birthday-eve audience at Chitralada Palace on Tuesday, encouraged the manufacture of bio-fuel from palm oil to reduce the country’s dependency on imported oil.