With Brazil's ethanol prices soaring, the nation's government is expected to put forth a policy to reduce the mandatory ethanol blend in gasoline. Brazil's energy minister, Edison Lobao, recently met with President Dilma Rousseff. The two immediately arrived at the conclusion that unless Brazil's mandatory ethanol blend is reduced, the nation will run out of the biofuel before the next sugarcane harvest.
Brazil's ethanol prices have soared to levels rarely seen, rising 65 percent over last month's prices and hitting $6.31 a gallon, more than double the amount the biofuel was selling for during this same time last year. Since Brazil blends its gasoline with a mandated 25 percent ethanol, the rising cost of the biofuel can significantly affect pump prices.
Porsche announced yesterday morning that as early as this year, the automaker's engines will come into compliance with Europe's EU5 guidelines on CO2 emissions,which don't officially go into effect until 2009. More interestingly, they stated that it doesn't end there, as Porsche will be compliant with the even more stringent EU6 requirements at the same time. EU6 isn't set to go live until 2014, putting Porsche well ahead of the curve.