News

October 26, 2008

That Was The Week That Was … In Grains And Alternative Fuels

By Sally White

Amidst the mayhem in markets worldwide, and with oil hurtling down towards US$60, alternative energy was suffering from a few problems of its own. Europe was locked in a battle over reductions in carbon emissions, while the US ethanol industry was crossing its fingers that John McCain won’t win. The Republican presidential nominee is strongly opposed to the subsidies without which corn ethanol would not exist.

While the European parliament has taken a strong line, with plans to cut emissions by a fifth by 2020, some EU leaders are fighting for reductions as their industries struggle with falling orders and a looming recession. Last week the European Parliament decided to bring forward a vote to early December, ahead of the next European summit. Italy and a group of East European states led by Poland are fighting hard for concessions for industry and power generators which will be the hardest hit by...