Fuel firms go green to bulk up profits.
Posted by Laird on Oct 19, 2008
Fuel firms go green to bulk up profits
Fuel companies are bulking up their diesel and their profits with harmful biofuels. Some firms are adding twice as much of the plant based fuel as required under Government rules, despite growing evidence that its production is pushing up food prices, destroying rainforests and killing wildlife.
BP is using palm oil, a “green” fuel blamed for endangering Orangutans in Indonesia where farmers rip out forests and lay fuel crops plantations in their place. Under the Government’s Renewable Transport Fuel Obligation, suppliers have to mix 2.5 per cent biofuel into their fuel.
But tests carried out by Green peace reveal the level is twice that. Biofuel is cheaper than fossil fuels, especially at the moment with oil prices at a high level. Shell are selling diesel with 4.9 per cent biofuel. BP is selling 4.8 per cent biofuel mix.
BP defended its use of palm oil, saying it backed industry moves towards making it sustainable.
