South Korea's energy ministry rejects five percent biodiesel blend, opts for three instead

South Korea currently uses a whopping 0.5 blend of biodiesel in its diesel fuel. Take heart, biodiesel lovers; the energy ministry said on Friday that by 2012, that percentage will skyrocket to, um, three percent. If you - like others - thought five percent by next year might be the new standard, sorry.

Reuters is reporting that the five percent number is not totally out of the question, but the three percent blend is set until the ministry reviews the plan in late 2010. Who's to blame for the delay? Reuters says it was Korea's powerful refining lobby.

Related:

• Asia Pulse: Korea will "churn out" hybrids by 2011
• Biodiesel viewed as cost-fighter in South Korea

[Source: Reuters]