ICYMI: Why Europe’s Biofuel Policy is Failing

In an opinion editorial featured in The Star, the CEO of the Malaysian Palm Oil Council, Dr. Yusof Basiron, writes about Europe’s flawed biofuel policy following a recent report by the EU lobbyist, pressure group, Transport & Environment, on the role of Palm Oil in the European biofuels market.

The Star: Demonising imports, a failed economic strategy.

By Dr. Yusof Basiron

“Protectionism is the dominant force in Europe. My own sector provides a telling illustration. Later this year, the EU is expected to embark once again on a revision of the Renewable Energy Directive (RED). This follows the original directive from 2009, and a previous revision completed only last year.

“The environmental group Transport & Environment (T&E) has recently “revealed” the “shocking truth” about palm oil’s use as a renewable energy fuel under the RED rules in the EU. Those who have examined the data behind the dramatic headlines will have learnt that the claims from T&E are neither shocking nor truthful.

“The core of T&E’s complaint is that the use of palm oil for biodiesel is rising. This is true ­though the real increase is nowhere near the amount that T&E claims.

This is not “shocking”, or indeed surprising, to anyone with a passing knowledge of the market or the cost of European-produced oilseeds. Why?

Because palm oil is simply a superior product. If you don’t believe me, then believe the data.”

Read the full article here.