Green Options » Philippe Tillous-Borde http://greenoptions.com/tag/philippe-tillous-borde Posts tagged 'Philippe Tillous-Borde' Sat, 27 Sep 2008 11:48:39 +0000 http://wordpress.org/?v=2.5.1 en France Says “Non” to Biofuel Tax Breaks http://gas2.org/2008/09/27/france-says-non-to-biofuel-tax-breaks/ http://gas2.org/2008/09/27/france-says-non-to-biofuel-tax-breaks/#comments Sat, 27 Sep 2008 11:48:39 +0000 Adam Shake http://gas2.org/2008/09/27/france-says-non-to-biofuel-tax-breaks/ Citing higher oil and grain prices, the French Government said it will phase out tax breaks for biofuels by 2012.

On Friday the French government dropped the hammer on companies like Sofiproteol — who owns the country’s largest biodiesel maker, Diester Industries. In a statement the government they said:

“The cost price of biofuels is no longer structurally disconnected from those of standard fuels. Tensions affecting agricultural raw materials have reached levels that no longer justify tax exemptions on the grounds of helping to provide outlets for farm production.”

In other words, the French government thinks that the rising price of oil and corn and grain has made the biofuels industry profitable enough to stop the tax breaks.

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