World Bank President on Biofuels
The president of the World Bank made an appearance at the World Food Prize symposium Thursday on World Food Day and commented on world production of food and biofuels during a press conference.
Robert Zoellick noted that some biofuels are more efficient than others, like sugarcane ethanol in Brazil, and he believes that “biofuels in the future are going to be a critical component of a larger energy mix.” He also acknowledged the importance of creating the marketing framework which he says is “partly what some of the oilseeds-based and corn-based biofuels are about.”
He urges policy makers in the U.S. to consider some ways to change the structure of tariffs and subsidies for ethanol, such as having some “safety-valves” that would allow for the reduction of subsidies when prices reach certain levels.
Listen to Zoellick’s comments here:
wfp-08-zoellick-biofuels.mp3
You can also download the audio with this link: Zoellick on Food and Fuel (mp3)
See photos of the World Food Prize event here.
Podcast: Play in new window | Download (1.8MB)
2 Comments »
Jeff Baker
We don’t need Zoellick trying to steer our biofuels industry. That’s what our own government is for. When you study the overall picture, the current subsidies and the current ethanol import tarrif are ideal for the path we’re on. Zoellick: Mind your own business.
Laramie Jordan
Jeff,
I agree, you should be allowed to steer your own biofuels industry free of any government influence or input.
Of course that would mean an end to any subsidies, tax credits, and protective tariffs. But if you have a sound business model, you shouldn’t need them, right?
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