Bye Bye Europe. British Petroleum Invests in Advanced Biofuels in America

BP's Refinery
BP’s Refinery

Oil major BP is directing investment in advanced biofuels to the United States and South America due to uncertainty about the European Union’s future regulatory environment.

“At the moment we are not contemplating investing in second-generation cellulosic (ethanol) in Europe simply for the reason that there is not enough certainty on what the market conditions will be like,” Phil New, head of BP Biofuels, said in an interview with Reuters UK.

Continue reading