Biofuels Corporation Charts

From today's Times:

Concern for rainforest forces RWE to scrap palm oil project
Carl Mortished, International Business Editor
- Move is blow to biofuels promotion
- Sustainability of supplies questioned

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Widely used in processed foods, such as margarine, and in cosmetics, palm oil is burning bright on commodity exchanges. The price in Rotterdam soared to an eight-year high last week of $620 per tonne, buoyed by fears that floods in Malaysia would damage production. It has risen by more than 50 per cent over the past year in expectation that the burgeoning market for biodiesel will transform a previously dull commodity into the fuel of the future.

The Indonesian Government has signalled that 40 per cent of its palm oil crop will be designated for biofuel production in an attempt to reduce the country’s reliance on crude oil.

RWE npower had hoped that palm oil would produce electricity in a carbon-neutral process that would not add to greenhouse gas emissions.

According to a spokesman for RWE npower, the process works but the company was unable to guarantee that enough palm oil could be bought from sustainable plantations.

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