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Home / Bioethanol / News Russia could become source of biofuel for Europe - Agriculture Minister Gordeyev© 2008 Interfax Information Services, B.V. MOSCOW. May 28 (Interfax) — Russia could become a source of raw materials for the production of biofuels in European countries, but to do this the government needs to create the right conditions to attract investment in production, Agriculture Minister Alexei Gordeyev told a press conference at Interfax in Moscow on Wednesday. The current oil price stimulates biofuel production and consumption, he said. The international experience has shown that the production of bio-ethanol becomes profitable with oil at USD 25 per barrel and biodiesel at over USD 50 per barrel. The world community is actively debating the ethical aspect of biofuel production: can agricultural products be used for the production of fuel when almost 880 million people live in hunger and 1.6 billion are undernourished? «Whatever the WTO (World Trade Organization) is doing does not take these processes into account,» Gordeyev said. By heavily subsidizing local manufacturers and closing their markets, European countries undermine agricultural progress in developing economies and inhibit global agricultural development, he said. Gordeyev said that he planned to speak at a FAO (Food and Agriculture Organization) conference in Rome next week that will discuss the topics of food safety amid the global crisis caused by soaring food prices. «The world community is beginning to prepare measures to address this crisis,» he said.
Date: 08.06.2008 Leave your comment
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