Opec warning on biofuels

The Organisation of the Petroleum Exporting Countries (Opec) has warned that moves by industrialised nations to develop biofuels could send oil prices “through the roof”.

Today’s caution from Opec secretary general Abdalla El-Badri comes as G8 leaders prepare to meet in Germany for a three-day summit with climate change and energy security at the top of the agenda.

US president George Bush has already pledged to cut America’s use of petrol by 20 per cent over the next ten years.

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