A new legislation set to be passed by the EU will, in effect, extinguish the nascent biofuel industry by letting all of the existing subsidies that keep this sector afloat expire.
“The [European] Commission is of the view that in the period after 2020, biofuels should only be subsidized if they lead to substantial greenhouse gas savings … and are not produced from crops used for food and feed,” the draft legislation says, according to Reuters.
This decision is a big condemnation of the biofuel frenzy.
