British MPs have told the European Union to abandon new biofuel targets because they may do more harm to the environment than good. (more…)

Biofuels are unlikely to be cheaper in 2008 than mineral oils despite crude prices nudging 100 dollars a barrel. This, combined with crop shortfalls from drought has more than doubled the prices of some biofuel sources, such as corn, soya, palm and sugar, compared with 2006. Not until next autumn is increased supply likely to bring price drops therefore. So sustained switching to biofuels is even more dependent on keeping their taxes (duties) low.