Biofuels — At What Cost? 2007 Update on the United States
Download the report: Biofuels—At What Cost? Government Support for Ethanol and Biodiesel in the United States – 2007 Update
For the original October 2006 report on government support to biofuels in the United States, click here.
23rd October 2007, Washington D.C. The biofuels industry is witnessing unprecedented growth in the United States, driving agricultural commodities prices to record levels and sparking a host of environmental and economic concerns. This expansion is far from imputable wholly to market forces; rather, federal, state and municipal jurisdictions have been instrumental in driving up both the production and consumption of biofuels through sizeable subsidies and other incentives. A new report by the Global Subsidies Initiative (GSI) and Earth Track, "Biofuels — At What Cost? Government Support for Ethanol and Biodiesel in the United States — 2007 Update", revises an earlier report issued October 2006 and details the extent of current government support to biofuels in the United States. The report also analyzes the potential impact of forthcoming legislation, namely the Energy and Farm Bills, which are poised to expand government support even further.
Under existing policies, the biofuels industry will, in aggregate, benefit from support worth over $ 92 billion within the 2006–2012 time frame.