For a long time now cleaner more eco-friendly fuels have beena kind of Holy Grail for scientists, economists and environmentalists alike. There are a lot of candidates up for the title of Mister Biofuel, one of the best ranked, at least in the polls, is biodiesel. Mostly because of its easy implementation, it works on any type of diesel car, but is made out of different
plants rather than crude oil, it is also cleaner producing up to 40% less greenhouse gases when burnt. The EU introduced a program for subsidizing biofules production in 2004 as part of the reform of the CAP (Common Agricultural Policy), and as expected production has increased – the entire €90 million budget was spent in 2007 for the first time. Romania with its great potential for agriculture should take advantage of this opportunity until it is too late, BRD – Societe Generale could spur on internal production by offering attractive credit options for biofuels raw material producers, which alongside the EU subsidies would encourage more farmers to take on this challenge. The risk is not so great considering that the raw materials market is currently facing a demand deficit, one that could easily be covered. Of course prudence is also required so as to not get farmers to switch from traditional food crops to fuel crops – causing a shift in the food market, as with everything balance is the key.
