Biofuels might cost the EU up to $95 billion by 2020

An internal draft from the European Commission states that the EU plans for a mandatory 10 percent blend of biofuels in 2020 is going to cost Europeans quite a lot of money: 65 billion euros (about $95 billion). The draft estimates costs from 2007 to 2020 and was made by the Joint Research Centre (JRC).

The draft also speaks about the (in)convenience of using biofuels to counteract global warming, something the EU is already aware of. On the topic of biofuels and their CO 2 balance, the draft states that nitrogen fertilizers, as well as deforestation, could offset any carbon reduction.

There's also a section dedicated to "energy independence" and "jobs creation," two of the most common arguments to support biofuels. For the first, the draft states that it's better to "invest in a strategic oil reserve for the short term, instead of investing a higher amount of money in agrofuels which would yield less energy". Regarding jobs, the impact is considered "insignificant". However, not all of the JRC's arguments are against biofuels. The draft also says that biomass is a good source to produce energy.

As a final conclusion, this draft proposes a complete approach to address global warming from all fronts, instead of focusing only on transport emissions and costs.

[Source: Europa Press via Econoticias]

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