07 Jul 08 Biofuel Slowdown

At least the UK is seeing sense over biofuel. Much has been said, particularly in the US, about how increasing the production of biofuels will help reduce the dependence on oil imports from the OPEC countries.

However, it’s helping to push up food prices – the World Bank thinks by as much as 75% this year – and with growing demand for food by developing nations, partly spurred on by a growing population, and by poor harvests, it’s seen by many as not the best way to be using such crops.

Also, it can possibly do more harm than good to the environment as rain forests and other areas are mercilessly cut down to make room for more and more acres of bio fuel crops.

Tags: bio fuel, biofuel, dependence on oil, developing nations, food prices, fuel crops, oil imports, opec, opec countries, poor harvests, population, rain forests, seeing sense, world bank