Rising food prices stir opposition to biofuels

By Wayne Rogers,Sonnenschein Nath & Rosenthal LLP
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Despite the recent drop in oil prices, attention remains focused on petroleum dependence and the energy crisis. In all countries, the issues of energy security, economic growth and environmental protection are linked. There is a growing trend to counter oil dependence by the increased use of biofuels. Although biofuels were initially hailed as the future replacement for oil, voices for opposition to their use have grown louder. In addition, the issue of food security has entered the mix.

Wayne Rogers,Advisor,Sonnenschein Nath & Rosenthal
Wayne Rogers
Senior advisor
Sonnenschein Nath & Rosenthal

The rapid increase in fuel prices over the last several years has prompted renewed efforts to find alternatives to oil. Focus has settled on ethanol (which is mostly derived from corn or sugar) and biodiesel (which is derived from various oils: soybeans, sunflower, jatropha, canola, palm, animal fats and other rendered greases). World production of these fuels has exploded. Between 2001 and 2007 world production of ethanol increased from 18.5 billion litres to 60 billion litres, while biodiesel production went from one billion litres to nine billion litres.

The use of biofuels has become one of the most controversial environmental issues today. Europe has an aggressive biofuels programme, spurred by its obligations under the Kyoto accord on greenhouse gas emissions. This has created a tremendous opportunity for the import of biofuels into Europe. The US and some developing countries have raced to exploit this opportunity.

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Wayne Rogers is a senior adviser in the international law firm of Sonnenschein Nath & Rosenthal, where he specializes in international trade and cross-border transactions. He may be reached at +1-202-408-6478 or wrogers@sonnenschein.com.

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