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<br>Biofuels: 'Irrational' and 'even worse than nonrenewable fuel sources'<br> |
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<br>The UK's "irrational" use of [biofuels](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) will cost drivers around ₤ 460 million over the next 12 months, a think tank states.<br> |
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<br>A report by Chatham House, external says the [growing reliance](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) on sustainable liquid fuels will also increase food rates.<br> |
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<br>The author states that [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) made from [vegetable oil](https://www.crunchbase.com/organization/mission-newenergy) was worse for the environment than fossil fuels.<br> |
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<br>Under EU law, external, biofuels are set to comprise 5% of the UK's transportation fuel from today.<br> |
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<br>Since 2008, the UK has actually required fuel providers to add a growing proportion of sustainable materials into the fuel and diesel they provide. These biofuels are mainly ethanol distilled from corn and [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) 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 says that reaching the 5% level means that UK drivers will have to pay an additional ₤ 460m a year because of the greater cost of fuel at the pump and from filling up more [frequently](https://www.businessnews.com.au/Company/Mission-NewEnergy) as [biofuels](https://www.crunchbase.com/organization/mission-newenergy) have a lower energy material.<br> |
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<br>The report say that if the UK is to meet its commitments to EU energy targets the cost to [drivers](https://www.bloomberg.com/profile/company/MNELF:US) is likely to rise to ₤ 1.3 bn per annum by 2020.<br> |
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<br>"It is hard to discover any great news," Rob Bailey, senior research study fellow at [Chatham](https://www.google.com/search?kgmid=/m/0cqd_rb) House, told BBC News.<br> |
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<br>"Biofuels increase expenses and they are an extremely pricey way to reduce carbon emissions," he stated.<br> |
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<br>The EU [biofuel](https://stocktwits.com/symbol/MNEL) mandates are likewise having hugely distorting impacts in the marketplace. Because utilized cooking oil is related to as among the most sustainable kinds of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053), the cost for it has risen quickly. Rob Bailey states that towards the end of 2012 it was more pricey than refined palm oil.<br> |
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<br>"It develops a monetary incentive to buy refined palm oil, prepare a chip in it to turn it into utilized cooking oil and after that sell it at revenue,"<br> |
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<br>"It is insane but the incentives are there."<br> |
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<br>There are likewise [stresses](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) that taking EU land out of production to oil in particular is producing more [climate issues](https://www.bloomberg.com/profile/company/MNELF:US) than it fixes. The more fuel of this type that is taken into vehicles the larger the deficit created in the edible oils market. This had resulted in increased imports of palm oil from Indonesia, typically produced on deforested land.<br> |
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<br>"Once you consider these indirect results, biofuels made from veggie oils actually result worldwide in more emissions than you would get from utilizing diesel in the first location," stated 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 an entirely unreasonable method."<br> |
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<br>Biofuel benefits<br> |
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<br>The European [Biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Board (EBB), which represents the industry, external across the EU, said it understood the problems brought on by the mandate. But it believes that [biofuels](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) have numerous positives.<br> |
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<br>"Blaming biofuels for all the troubles worldwide is a bit too exaggerated," said Isabelle Maurizi, job manager at the EBB.<br> |
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<br>"It has brought great deals of benefits. It has improved the security of our diesel |
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