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Wednesday, 06 May 2015

European biofuel bubble Bursts with reform

As the world’s biggest user and importer of biodiesel, the recent European Parliament ruling which  limits the use of crop-based biofuels is a strong signal that the EU is engaged to meet its  energy targets. Moreover, it also signals the end of a long running debate on the detrimental implications of  biofuel demand for transport on food prices, hunger, forest destruction, land consumption and climate change. Food crops, such as palm oil, soy and rapeseed are currently being used for transport fuel. However, this ruling indicates that the EU shall proactively limit biofuel production from agricultural crops to 7% of EU transport energy, and EU member states have the option to go lower than this. 

Source: ipsnews.net