Alternative Fuels Update

Source: OPEC 7/15/2008, Location: Europe

The EU felt the heat of its preset mandate for biofuel through a strong hike in food prices. The EU dropped its mandate of biofuel of a 10% mix of transport fuel by the end of the next decade which was totally unachievable. Many international organizations have accused such mandate of leading to bad consequences not only creating food shortages, but leading to massive environmental destruction in Asia. The EU has assigned a large budget to subsidize the biofuel industry. Likewise, the US biofuel industry is becoming a big burden on the government’s budget. Even with the high oil prices, this industry is not completely economical and must live on subsidies.


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Related Categories: Biomass Energy  General  Geothermal Energy  Hydropower  Photovoltaic Solar Energy  Solar thermal Energy  Wind Energy 

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