Blogging Climate Change from Bangladesh

Massive government subsidies for biofuels are not helping to reduce greenhouse gas emissions, according to an OECD report released Wednesday.

The U.S., EU and Canada spent €11 billion (US$17.6 billion) in public money to support energy crops in 2006 — and will more than double that over the next 10 years, according to estimates by the Paris-based Organization for Economic Cooperation and Development.

But this failed to reduce greenhouse gas emissions from transport by more than 1 percent, the OECD said — recommending that governments would see more savings from a lower-cost push toward cutting energy use overall.

http://www.iht.com/articles/ap/2008/07/16/business/EU-OECD-Biofuels.php