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<br>Biofuels: 'Irrational' and 'worse than fossil fuels'<br> |
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<br>The UK's "illogical" usage of biofuels will cost vehicle drivers around ₤ 460 million over the next 12 months, a think tank states.<br> |
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<br>A report by Chatham House, external states the [growing reliance](https://www.businessnews.com.au/Company/Mission-NewEnergy) on sustainable liquid fuels will likewise increase food costs.<br> |
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<br>The author states that [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) made from veggie oil was even worse for the environment than fossil fuels.<br> |
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<br>Under EU law, external, biofuels are set to comprise 5% of the [UK's transport](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) fuel from today.<br> |
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<br>Since 2008, the UK has actually needed fuel suppliers to add a growing percentage of sustainable products into the petrol and diesel they supply. These biofuels are generally ethanol distilled from corn and biodiesel made from rapeseed, used cooking oil and tallow.<br> |
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<br>Deep fried fuel<br> |
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<br>But research carried out for Chatham House states that reaching the 5% level suggests that UK drivers will need to pay an extra ₤ 460m a year since of the higher [expense](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) of fuel at the pump and from filling more frequently as biofuels have a [lower energy](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) [material](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html).<br> |
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<br>The report state that if the UK is to satisfy its responsibilities to EU [energy targets](https://www.google.com/search?kgmid=/m/0cqd_rb) the cost to motorists is most likely to rise to ₤ 1.3 bn per year by 2020.<br> |
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<br>"It is hard to find any excellent news," Rob Bailey, senior research study fellow at Chatham House, told BBC News.<br> |
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<br>"Biofuels increase expenses and they are a really expensive way to reduce carbon emissions," he stated.<br> |
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<br>The EU [biofuel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) mandates are also having extremely distorting effects in the market. Because used cooking oil is considered as one of the most sustainable types of biodiesel, the rate for it has actually risen quickly. [Rob Bailey](https://www.google.com/search?kgmid=/m/0cqd_rb) says that towards completion of 2012 it was more expensive than refined palm oil.<br> |
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<br>"It creates a monetary reward to purchase refined palm oil, cook a chip in it to turn it into used cooking oil and then sell it at revenue,"<br> |
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<br>"It is insane however the incentives are there."<br> |
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<br>There are also stresses that taking EU land out of production to grow rapeseed oil in specific is developing more climate problems than it [resolves](https://www.pinterest.com.au/missionnewenergy/). The more fuel of this type that is taken into cars and trucks the bigger the deficit developed in the [edible oils](https://www.crunchbase.com/organization/mission-newenergy) market. This had actually caused increased imports of palm oil from Indonesia, typically produced on deforested land.<br> |
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<br>"Once you take into consideration these indirect effects, biofuels made from veggie oils really result worldwide in more emissions than you would get from utilizing diesel in the first place," said [Rob Bailey](https://www.bloomberg.com/profile/company/MNELF:US).<br> |
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<br>"Plus you are asking vehicle drivers to pay more for the fuel - it makes no sense, it is a completely unreasonable technique."<br> |
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<br>[Biofuel](https://stocktwits.com/symbol/MNEL) advantages<br> |
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<br>The European Biodiesel Board (EBB), which represents the industry, external throughout the EU, said it was mindful of the issues brought on by the required. But it believes that [biofuels](https://www.bloomberg.com/profile/company/MNELF:US) have lots of [positives](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm).<br> |
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<br>"Blaming biofuels for all the problems worldwide is a bit too overstated," stated Isabelle Maurizi, task manager at the EBB.<br> |
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<br>"It has brought lots of benefits. It has actually improved the security of our diesel |
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