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<br>Biofuels: ['Irrational'](https://www.pinterest.com.au/missionnewenergy/) and 'worse than fossil fuels'<br> |
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<br>The UK's "unreasonable" use of biofuels will cost motorists around ₤ 460 million over the next 12 months, a think tank states.<br> |
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<br>A report by [Chatham](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) House, external says the growing reliance on [sustainable](https://www.zoominfo.com/c/mission-newenergy/346542889) liquid fuels will likewise increase food rates.<br> |
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<br>The author states that [biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) made from [vegetable oil](https://www.google.com/search?kgmid=/m/0cqd_rb) was even worse for the environment than nonrenewable fuel sources.<br> |
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<br>Under EU law, external, biofuels are set to [comprise](https://pitchbook.com/profiles/company/51278-86) 5% of the [UK's transport](https://pitchbook.com/profiles/company/51278-86) fuel from today.<br> |
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<br>Since 2008, the UK has needed fuel suppliers to include a growing proportion of [sustainable materials](https://forest500.org/rankings/companies/mission-newenergy-limited) into the petrol and diesel they supply. These [biofuels](https://www.crunchbase.com/organization/mission-newenergy) are primarily [ethanol distilled](https://pitchbook.com/profiles/company/51278-86) from corn and [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) 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 study performed for Chatham House states that reaching the 5% level means that [UK drivers](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) will have to pay an additional ₤ 460m a year since of the greater expense of fuel at the pump and from filling up more typically as biofuels have a lower energy content.<br> |
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<br>The report state that if the UK is to meet its obligations to EU energy targets the cost to drivers is most likely to increase to ₤ 1.3 bn per annum by 2020.<br> |
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<br>"It is tough to discover any great news," Rob Bailey, senior research study fellow at Chatham House, News.<br> |
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<br>"Biofuels increase costs and they are a really costly way to reduce carbon emissions," he said.<br> |
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<br>The EU [biofuel](https://stocktwits.com/symbol/MNEL) mandates are also having extremely distorting effects in the market. Because utilized cooking oil is related to as one of the most sustainable types of biodiesel, the price for it has actually increased rapidly. Rob Bailey says that towards completion of 2012 it was more expensive than refined palm oil.<br> |
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<br>"It creates a financial reward to buy refined palm oil, cook a chip in it to turn it into utilized cooking oil and then sell it at profit,"<br> |
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<br>"It is crazy however the rewards are there."<br> |
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<br>There are likewise stresses that taking EU land out of production to grow rapeseed oil in specific is developing more climate problems than it resolves. The more fuel of this type that is put into cars and trucks the bigger the deficit produced in the edible oils market. This had caused increased imports of palm oil from Indonesia, typically produced on deforested land.<br> |
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<br>"Once you take into account these indirect results, biofuels made from vegetable oils really result worldwide in more emissions than you would obtain from utilizing diesel in the first place," said Rob Bailey.<br> |
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<br>"Plus you are asking drivers to pay more for the fuel - it makes no sense, it is a totally unreasonable method."<br> |
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<br>[Biofuel](https://stocktwits.com/symbol/MNEL) benefits<br> |
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<br>The [European Biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) Board (EBB), which represents the market, external across the EU, said it understood the issues triggered by the mandate. But it thinks that biofuels have many positives.<br> |
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<br>"Blaming biofuels for all the troubles in the world is a bit too overstated," said Isabelle Maurizi, project manager at the EBB.<br> |
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<br>"It has brought lots of advantages. It has actually enhanced the security of our diesel |
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