We have looked at the potentially vast downside resulting from the push towards biofuels here on ForceChange quite a bit. Given the widespread belief that increased biofuel production is having a strongly negative impact on both world foods supplies, as well as the environment, it should come as no surprise that the EU voted recently to relax its biofuel targets.
The EU’s Industry and Energy Committee called for a substantial cut in biofuel usage in transportation from the 10% target by 2020 to only 5% by 2015, as well as a call to avoid biofuels that compete with food sources. The full EU Parliament, as well as member countries, must still agree to any target before they become law. Unsurprisingly, large biofuel producers are strongly opposing this proposed action. Additionally, the U.S. still appears intent on creating its own addiction to corn.