Biofuel boom could follow oil price spike

02/03/2011 / Kaj

When biofuels match oil on price, production could boom in the developing countries that also have the greatest need to boost food supply. Fossil fuel subsidies in developing countries, amounted to $557bn (€464) in 2008, according to the IEA. By comparison, last year, governments worldwide provided a feeble $43-46bn (€32-€35bn) for the development of all renewable energy sources (including biofuels), according to a preliminary analysis published by Bloomberg New Energy Finance.

Read the article in The Guardian or my earlier blogs in the category – Dependency on fossil fuel

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