20 Latin American countries pitch for biofuels

In El Salvador, 20 Latin American countries have promised to promote biofuel production and use, with the support of development finance institutions. The region has a wide variety of possible feedstocks available from sugarcane and palm oil to corn and soy. Between increasing petroleum scarcity, the future return of high oil prices and negative impacts on the climate, the countries agreed there was no time to wait before fast-tracking biofuels. The Inter-American Development Bank is seen as the key financing partner to get the ball rolling.