What is good news for the consumer is bad news for the environment. The fall in the price of oil is probably bad news for the market in renewable energy. Higher crude prices make biofuels more viable, then the converse is true, lower crude prices make biofuels less viable. Most biofuels are produced from crops that can also be used for food production. Biofuels are not without environmental impact. As demand grows so more land is likely to be devoted to production with impact on forests and biodiversity. But at leat it is renewable. The market in biofuels increased in recent years primarily to meet demand from the transport sector, especially road vehicles, which use biofuels either in pure form or as blend into conventional fossil fuels. With rising crude prices the biofuels industry became more or less self sustainable and less reliant on subsidies to promote green energy production. The falling price of crude may put that in jeopardy. This may in tur...
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