The German government reversed a decision to double the ethanol and renewable additives content of gasoline and diesel to 10 percent, a plan that threatened to boost fuel prices for millions of car drivers.
Under the plan that was to go into effect in January, more than 1 million mainly foreign-brand vehicles would not be able to burn the new fuel mix, forcing drivers to fill up with more expensive “super-plus” gas, German Environment Minister Sigmar Gabriel told a news conference in Berlin yesterday.
“We don’t want to take responsibility if several million people who drive old cars only because they live on lower wages have to use expensive” fuel, he said.
Gabriel came under pressure from members of his own Social Democratic Party as well as German Chancellor Angela Merkel’s Christian Democrats to ease pressure on car owners who are already suffering from surging fuel prices, Bild said.
As many as 3 million cars won’t be able to burn the so-called E10 blend, some estimates say, a figure well above the 375,000 vehicles that the German carmakers’ association has estimated.
“In light of the fact that more than 3 million vehicles are not suited to run on E10, it can hardly be expected that there would be any other outcome,” Ulrich Becker, vice president of the ADAC German Automobile Association, Europe’s biggest lobby group with 15 million members, said on the group’s Web site yesterday.
ADAC expects biofuels and ethanol to play an “important” role in mobility after 2012 when the number of vehicles built to burn a higher content of renewable gasoline and diesel is higher than it is now, Becker said.
Burning biodiesel made from rapeseed and ethanol made from wheat, barley and sugar beet generates up to 40 percent less carbon dioxide, the Environment Ministry has said.
Merkel wants a fifth of car fuel to comprise bio-supplements by 2020.
Germany’s plans complement a EU proposal to increase production of ethanol to meet a mandatory target that biofuels power 10 percent of transportation by 2020. Transport accounts for a fifth of the 27-nation bloc’s greenhouse gas emissions.
Governments are encouraging the use of alternative fuels to limit carbon-dioxide emissions blamed for global warming and to reduce dependency on oil imports.
Crude oil reached US$104.35 a barrel in New York on Thursday, a 62 percent rise from a year earlier.
Studies conducted by Oxfam, Greenpeace and the Organization for Economic Cooperation and Development have said that biofuels will have a limited effect on overall emissions, substantially increase food costs and damage the environment.
STIMULUS PLANS: An official said that China would increase funding from special treasury bonds and expand another program focused on key strategic sectors China is to sharply increase funding from ultra-long treasury bonds this year to spur business investment and consumer-boosting initiatives, a state planner official told a news conference yesterday, as Beijing cranks up fiscal stimulus to revitalize its faltering economy. Special treasury bonds would be used to fund large-scale equipment upgrades and consumer goods trade-ins, said Yuan Da (袁達), deputy secretary-general of the Chinese National Development and Reform Commission. “The size of ultra-long special government bond funds will be sharply increased this year to intensify and expand the implementation of the two new initiatives,” Yuan said. Under the program launched last year, consumers can
Citigroup Inc and Bank of America Corp said they are leaving a global climate-banking group, becoming the latest Wall Street lenders to exit the coalition in the past month. In a statement, Citigroup said while it remains committed to achieving net zero emissions, it is exiting the Net-Zero Banking Alliance (NZBA). Bank of America said separately on Tuesday that it is also leaving NZBA, adding that it would continue to work with clients on reducing greenhouse gas emissions. The banks’ departure from NZBA follows Goldman Sachs Group Inc and Wells Fargo & Co. The largest US financial institutions are under increasing pressure
FUTURE TECH: Nvidia CEO Jensen Huang would give the keynote speech at this year’s Consumer Electronics Show, which is also expected to highlight autonomous vehicles Gadgets, robots and vehicles imbued with artificial intelligence (AI) would once again vie for attention at the Consumer Electronics Show (CES) this week, as vendors behind the scenes would seek ways to deal with tariffs threatened by US president-elect Donald Trump. The annual Consumer Electronics Show opens formally in Las Vegas tomorrow, but preceding days are packed with product announcements. AI would be a major theme of the show, along with autonomous vehicles ranging from tractors and boats to lawn mowers and golf club trollies. “Everybody is going to be talking about AI,” Creative Strategies Inc analyst Carolina Milanesi said. “From fridges to ovens
Twenty years after he was a young, struggling actor in Toronto, Thomas Lo (盧瑞麟) is now the one giving young Asian actors their big breaks. He just had to go to Hong Kong to do it. The Chinese Canadian has been the creative director of one of the territory’s biggest TV broadcasting companies for only a few years, but is already making original English-language content to reach viewers around the world. “It was a bit of a full-circle moment for me,” Lo said. “You see more Asians, but you’re still seeing the same Asians on screen, right? We’re looking for more opportunities