EU will need imports to hit biofuel targets

Europe will need to import thousands of tonnes of bio-fuels to hit stringent new targets proposed by Brussels yesterday.

Oil companies said a law requiring all petrol to be blended with 10 per cent ethanol by 2020 would call for supply from countries such as Brazil that could produce vast quantities at cheap prices.

“Europe cannot produce enough,” said Peter Tjan, of the European Petroleum Industry Association. “We will swap oil from Saudi Arabia for biofuels from Brazil and Malaysia. Does that help energy security?”
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