Monday, September 17, 2012

09/17/2012 LATEST BUSINESS BULLETIN



Published on Sep 17, 2012 by
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Published on Sep 17, 2012 by

EU Commission to limit food-based biofuels



Published on Sep 17, 2012 by
http://www.euronews.com/ In a major policy shift, the European Commission has said it wants to cap food-based biofuels to five percent.

The new limit was announced during informal talks in Cyprus on Monday between EU energy ministers.

Record high global grain prices have intensified calls from environmental groups, and NGO's like Oxfam, which argue current rules snatch away land that should be used for food.

The idea, to develop more sustainable biofuel sources would still need to be approved by MEPs and national governments.

Activists insist the current use of food-based biofuels is unsustainable:''Every day we take huge amounts of food and put it inside the tanks of our cars. We live in a world where one billion people suffer from the famine. Is this acceptable? We need a more intelligent transport system that has more fuel efficient cars, electric cars,''Marc-olivier Herman from Oxfam said.

The EU's current goal is to source 10 percent of its road transport fuel from renewable sources by 2020.

But without food based carburants doubts have been raised whether that target is now achievable.