Jul 17, 2008

11 Billion in Biofuel Aid Called Ineffective at Cutting CO2

Bloomberg: The U.S., Canada and the European Union's combined $11 billion in annual subsidies for plant- derived fuels does little to reduce carbon-dioxide emissions, the Organization of Economic Cooperation and Development said. The greenhouse gas released by cars, trucks, airplanes and ships ``at best'' will decline 0.8 percent by 2015 in those regions with the help of aid programs, Stefan Tangermann, the Paris-based group's director for trade and agriculture, said today at a briefing in ..Link