Biofuel Scam

As if the built in systemic problems associated with the current biofuel push were not enough, here’s a remarkable story from the Guardian in which biodiesel is shipped from Europe to the United States, then back, to qualify for the US biodiesel export subsidy:

The “splash and dash” scam involves shipping biodiesel from Europe to the US where a dash of fuel is added, allowing traders to claim 11p a litre of US subsidy for the entire cargo. It is then shipped back and sold below domestic prices, undercutting Europe’s biofuel industry.

(h/t WSJ)