Suspend biofuel rules, say MPs


Regulations mandating the use of biofuels must be suspended, MPs warned the government on Thursday amid mounting political alarm.

Ministers have conceded they may have to rethink biofuels policy because of growing concerns about their effect on food prices and the environment.

The call from the Commons environmental audit committee comes as the industry warned that Britain would have enough surplus wheat production to support only three large ethanol plants, even though several more were being planned.

Britain’s biodiesel industry has already undergone a precipitous collapse, hit by cheap foreign imports including subsidised biodiesel from the US, and suffers from severe overcapacity.

Read the full story here A giant pack of cards supported entirely by government subsidies that sees agri & oil giants raking in billions

And have a particular chortle at the last paragraph:

"They rejected ministers’ argument that it would be harmful to investors to renege on their biofuels targets."

My heart bleeds for them.