Biofuel u-turn on the cards?

The EU have said that there is a possibility it might reconsider strategy on biofuels over concerns the bloc's approach was pushing up food prices and doing more harm than good to the environment.

"We're not excluding the possibility that we'll have to amend or revise our goals," said Prime Minister Janez Jansa of Solvenia, which holds the rotating EU presidency.

With the UK following Germany's lead and phasing out tax breaks on biofuel usage, coupled with the latest financial melt-down it's difficult to see many companies standing by their pledged investment of millions into an area where the goal posts have been not so much moved as dismantled & sent for scrap.

Bear in mind that this inclusion level thing isn't compulsary, it's a "commitment". If the big oil companies do not meet their 5 or 10% inclusion levels then they can simply pay a "fine" (a bit more tax effectively). If the economics stack up in such a way that it is cheaper to use fossil fuels than that is exactly what they will do.