Biofuels Report: "No more Subsidies!"
Earth Track has released a report titled Biofuels - At What Cost? Government support for ethanol and biodiesel in the United States: 2007 Update.
The first recommendation of their study:
More public money is not the solution. Stop compounding the problem with ever more subsidies.For those looking for another opinion, read the OECD Report on Biofuels - but the conclusions were largely the same.
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The report was prepared by Earth Track, but released by the Global Subsidies Initiative of the International Institute for Sustainable Development.
That this study and the so-called "OECD study" (actually, a background document for a meeting of the Round Table on Sustainable Development) reach similar conclusions should come as no surprise. Look at the acknowledgements page of the U.S. study update and the cover of the "OECD study" and you'll see a name common to both: yours truly.
Ron Steenblik
Director of Research
Global Subsidies Initiative
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