Biodiesel Law Approved in Argentina

A biodiesel law that aims to foment biofuels production for the internal Argentinean market was finally approved last week, after being in hold for two years. With this paper, the government expects that biofuels offer reaches 5% of the internal market in three years. According the Federal Planning Minister, Julio de Vido, by 2010 there will be a 600 thousand cubic meters production of biodiesel and 250 thousand cubic meters production of biometanol. To promote the production, the law establishes taxes devolution, the possibility to amortize investments in this field, and also the option not to pay the taxes applied to regular liquid and gaseous fuels. Even though the government recognized the law was just a start and aimed specialists to contribute to improve it, president Kirchner assured that this was the country's entrance into the "renewable fuels era". According to Héctor Huergo, a well-known local journalist specialized in the country business, soy and corn, which are two of the main sources for biofuels, are among the greatest Argentinean harvests. The country produces more than 45 million tons of soy a year, which can give up to 8 million tons of oil, the equivalent to 9 million cubic meters of biodiesel. Seems like good times are coming for green fuels in the country, with the news of big investments coming to this area, and also the First Biofuels Congress of the Americas taking place in Buenos Aires next March. Learn more about Biodiesel and green fuels in our How to Green Your Car guide (Picture: book cover from 'Biodiesel: Growing a New Energy Economy'). ::Via La Nacion newspaper and Clarin

Tags: Argentina | Biodiesel