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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (9669)	9/27/2006 11:09:00 AM
From: elmatador	Read Replies (1) \| Respond to of 217825

Biofuels – a viable option for New Zealand’s motorists? Will New Zealand’s cars be running on tallow, whey or oilseed in the coming years? Last week the government released a discussion paper outlining a proposed policy aimed at introducing biofuels to our petrol tanks. Biofuels – a viable option for NZ’s motorists Tuesday, 26 September 2006, 11:14 am Press Release: Rabobank Biofuels – a viable option for New Zealand’s motorists? Will New Zealand’s cars be running on tallow, whey or oilseed in the coming years? Last week the government released a discussion paper outlining a proposed policy aimed at introducing biofuels to our petrol tanks. Rabobank, the world’s leading specialist food and agribusiness bank, has also released a report on biofuels. The Global Focus report on Biofuels says that the buzz surrounding biofuels has changed from a murmur to a roar as the price of crude oil has continued its upward climb during 2005 and 2006. The report focuses on the development of biofuel industries in the European Union, United States, and Brazil. It also examines Australian government initiatives to encourage an emerging industry across the Tasman, where there is a non-mandatory target of 350 million litres or 1.1 percent of total fuel usage to come from biofuels by 2010. There are no penalties if the target is not met and biofuel uptake will be encouraged by tax and other incentives. Report author, Rabobank analyst Ingrid Richardson, says the international experience has shown that strong, long-term government support has been integral in enabling emerging biofuel industries to become established. “It is clear from the experience in the EU, the US, Brazil and a number of other countries that a biofuels industry is unlikely to emerge without strong government support over many years,” she says. Ms Richardson says mandates or targets that impose minimum biofuel levels to be used in fuel have proved particularly popular in a number of countries as a means of ensuring a market for biofuels through the creation of compulsory demand. This is the mechanism outlined in the Ministry of Transport’s “Biofuels Sales Obligation” where oil companies will be required to ensure that 0.25 percent of total sales volume is biofuel by 2008, increasing to 2.25 percent by 2012. It is proposed that financial penalties will be imposed for falling below this target.