Wednesday, July 9, 2008

Breaking News-EU panel votes to lower controversial biofuel goal

STRASBOURG, July 8 (Reuters) - European Union lawmakers took a first step towards lowering EU biofuels targets when a European Parliament panel backed a proposal to draw just 4 percent of road transport fuels from renewable sources by 2015.

The EU plans to get 10 percent of road transport fuel from renewable sources such as biofuels by 2020, but the target has been attacked by environmentalists, who say it contributes to rising food prices and deforestation.