Australia calls for increased government funding
Australia’s largest oil refinery Caltex Australia believes that a rise in government funding is what is needed to encourage further development in the biofuels sector.
The company explained that if Australia is to significantly reduce its greenhouse gas emissions the government needs to increase its $15 million (€11.36 million) budget currently devoted to technology in the sector.
At a speech in Sydney last week the CEO of Caltex, Julian Segal, highlighted that the US Department of Energy spends of $1 billion a year on improving and furthering the industry in the US. ‘The determination of countries like the United States and China to find sustainable solutions to liquid energy supply should not be underestimated,’ he said.
The company has a vision to market a ‘high ethanol-content’ fuel later on in the year but Segal says that rules and regulations need to be put in place to encourage biofuels.
The company explained that if Australia is to significantly reduce its greenhouse gas emissions the government needs to increase its $15 million (€11.36 million) budget currently devoted to technology in the sector.
At a speech in Sydney last week the CEO of Caltex, Julian Segal, highlighted that the US Department of Energy spends of $1 billion a year on improving and furthering the industry in the US. ‘The determination of countries like the United States and China to find sustainable solutions to liquid energy supply should not be underestimated,’ he said.
The company has a vision to market a ‘high ethanol-content’ fuel later on in the year but Segal says that rules and regulations need to be put in place to encourage biofuels.
Loading ...
