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<br>Biofuels: 'Irrational' and 'even worse than nonrenewable fuel sources'<br> |
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<br>The UK's "irrational" usage of biofuels will cost vehicle drivers around ₤ 460 million over the next 12 months, a think tank says.<br> |
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<br>A report by Chatham House, external states the growing dependence on sustainable liquid fuels will also increase food rates.<br> |
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<br>The author says that [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) made from grease was worse for the [environment](https://www.businessnews.com.au/Company/Mission-NewEnergy) than nonrenewable fuel sources.<br> |
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<br>Under EU law, external, biofuels are set to make up 5% of the UK's transport fuel from today.<br> |
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<br>Since 2008, the UK has required fuel suppliers to add a growing proportion of sustainable products into the gas and diesel they supply. These biofuels are primarily ethanol distilled from corn and [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) made from rapeseed, used cooking oil and tallow.<br> |
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<br>Deep fried fuel<br> |
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<br>But research performed for Chatham House says that reaching the 5% [level implies](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) that UK [vehicle drivers](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) will need to pay an extra ₤ 460m a year because of the higher [expense](https://www.google.com/search?kgmid=/m/0cqd_rb) of fuel at the pump and from filling more frequently as [biofuels](https://stocktwits.com/symbol/MNEL) have a lower energy material.<br> |
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<br>The report state that if the UK is to fulfill its obligations to EU energy targets the cost to motorists is most likely to increase to ₤ 1.3 bn per year by 2020.<br> |
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<br>"It is tough to find any good news," Rob Bailey, senior research at Chatham House, told BBC News.<br> |
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<br>"Biofuels increase costs and they are an extremely costly way to lower carbon emissions," he said.<br> |
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<br>The EU [biofuel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) requireds are also having extremely distorting results in the marketplace. Because used cooking oil is regarded as one of the most sustainable types of biodiesel, the cost for it has actually risen quickly. Rob Bailey says that towards completion of 2012 it was more pricey than refined palm oil.<br> |
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<br>"It develops a financial incentive to purchase refined palm oil, prepare a chip in it to turn it into utilized cooking oil and after that sell it at revenue,"<br> |
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<br>"It is crazy however the incentives are there."<br> |
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<br>There are likewise stresses that taking EU land out of [production](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) to grow rapeseed oil in specific is [producing](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) more [climate](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) problems than it solves. The more fuel of this type that is put into cars and trucks the larger the deficit developed in the edible oils market. This had actually lead to increased imports of palm oil from Indonesia, typically produced on deforested land.<br> |
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<br>"Once you take into consideration these indirect effects, biofuels made from vegetable oils really result worldwide in more emissions than you would obtain from utilizing diesel in the very first place," stated Rob Bailey.<br> |
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<br>"Plus you are asking drivers to pay more for the fuel - it makes no sense, it is a totally unreasonable strategy."<br> |
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<br>[Biofuel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) advantages<br> |
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<br>The European [Biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Board (EBB), which represents the industry, [external](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) throughout the EU, stated it understood the issues brought on by the required. But it thinks that biofuels have lots of positives.<br> |
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<br>"Blaming biofuels for all the difficulties on the planet is a bit too overstated," stated Isabelle Maurizi, project supervisor at the EBB.<br> |
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<br>"It has brought great deals of advantages. It has actually improved the security of our diesel |
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