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.