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Volume 8, Issue 1
Published: January 16, 2014
Europe's big shot at biofuels

There have been happenings in Israel and Brazil which such give confidence to Europe’s renewable fuel industry In the last issue

 

I spoke about how some have seemed to have lost the essence of what the term biofuels is supposed to stand for, namely energy freedom and the avoidance of exporting currency to pay for fuel.

Since then, I was recently invited by the government of Israel to give a speech about new investments in biofuels and was subsequently exposed to their plans in that area. I was impressed to learn it has set a target of reducing the use of fuel in transportation by 60% by 2025, a goal it calculates would add 1% to national economic growth.

For that, the Israeli government has committed 1.5% of all it spends on oil imports to the development of alternative fuels. And, as if that was not enough, it will also award an annual prize of $1 million (€728,600) toward innovative biofuels studies and projects. In fact, during the event, a couple of scientists, studying the potential of methanol as an alternative fuel, were given said funding.

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