EU Propose To Extend Import Tariffs On US Biodiesel

Hurrah! The European Commission has submitted a proposal Thursday to extend the temporary imposition of punitive import tariffs on US biodiesel.

A vote is expected on the proposal next month, which if passed could last for up to five years.

Temporary duties of between 213.8 euros ($297) and 409 euros ($567.5) per tonne were imposed on US biodiesel imports in March in an attempt to stop the US dumping it's own subsidised biodiesel in Europe, exploiting the so-called "splash & dash" loophole.

If you've been living in a cave and don't know what "splash & dash" is then I will explain:

The scam involves shipping biodiesel halfway round the world to the US where a "splash" of mineral-derived diesel is added. The entire consignment then qualifies for a US subsidy and is then shipped to Europe and sold below European prices! Inspired I'm sure you will agree, and also of course ludicrously costly to the US tax-payer too.

It makes a mockery of the environmental ethos behind biofuels, causing unnecessary shipping, increasing emissions of greenhouse gases whilst simultaneously undermining European producers.