Queensland Nationals Senator Barnaby Joyce has expressed disappointment that Australia's ethanol producers have been ignored in a Senate report responding to the threat of 'peak oil'.

"It is disappointing this report promises much but then fails to grasp the nettle and recommend a mandated volumetric target for renewable ethanol and bio diesel.

"A mandate is a strategy pursued by most other nations and it would go a significant way to addressing the concerns of peak oil by lessening our reliance on fossil fuel and doing something practical about climate change fears.

"It is disappointing that on page 131 of the report it says:

'The committee does not consider that there is any point at this time in mandating a minimum percentage of ethanol in petrol.'

"We need to admit that the oil companies know the retail cards are in their pocket.

"The rest of the world is surging forward to increase biofuels in their existing petroleum products as well as being prepared to embrace cellulose technology in the future."