Argentina appears poised to enact legislation aimed at promoting production of biofuels, an initiative supporters believe will reduce the country’s dependence on petroleum, boost renewable energy and create jobs. The law, backed strongly by agricultural-industry groups and President Néstor Kirchner, would establish tax incentives for producers of ethanol and biodiesel fuel, which could be made from such crops as corn, soy beans, sunflowers, rapeseed and sugarcane. Some experts here say the bill’s core requirement—that biofuels make up 5% of the country’s gasoline and diesel supplies within four years—is not ambitious enough. But others argue the legislation would have a profound effect. Says Osvaldo Bakovich, advisor to the Argentine Energy Secretariat’s fuels division: “We are witnessing a change in the Argentine energy matrix... [Log in to read more]