Global Biz Group: Biofuels Suck
The European Union (EU) wants to see 10 percent of Eurozone transportation powered by bio-fuels by 2020. The Organization for Economic Cooperation and Development (OECD) has come out in opposition, claiming biofuels’ ability to tackle global warming is strictly limited. Cooperate and develop this: the organization concludes that biofuels are only economically viable with large state subsidies (surprise!). What’s more, they reckon the mandated European bio-fuel surge could lead to “rising food prices and damage to forests and wildlife.” The OECD wants the EU to rescind its biofuels targets. Their alternative? Legislate energy-saving and more efficient vehicles. “You cannot feed people and soak up carbon and protect biodiversity and fuel cars,” says Brice Lalonde, the former French environment minister who chairs the OECD’s round table on sustainable development. C’est la verite.