Billions for Biofuels

May 2009
Multinational Monitor;May/Jun2009, Vol. 30 Issue 3, p5
The article focuses on a report by Friends of the Earth which noted that the biofuels industry will receive at least 420 billion U.S. dollars in subsidies in the U.S. between 2008 and 2022. The bulk of the subsidies will go to ethanol, an environmentally harmful biofuel that could result in devastating ecological effects both in the U.S. and abroad. The two main categories wherein U.S. biofuels subsidies fall under include the Renewable Fuels Standard and tax credits. It is noted that many biofuels actually release more greenhouse gases.


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