US dumping of biofuels will ruin us, says UK firm

The US is flooding Europe with subsidised biofuels that threaten to destroy Europe’s domestic refining market, the head of the biofuel company D1 Oils warned yesterday as its shares lost a third of their value.

Admitting that some 35 jobs could be lost as a result of the cheap imports, Elliott Mannis, chief executive, said: “The simple fact is that you can buy the subsidised American imported material cheaper than you can buy virgin oil for processing.”
Mannis said the EU was trying to negotiate change in Washington and would take the case to the World Trade Organisation, which regulates free trade, but that changes could take months. “If you believe in free trade, this isn’t a fair market.”

Guardian