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ecoENERGY for Biofuels
The Government of Canada is committed to expanding the production and use of cleaner, renewable biofuels such as ethanol and biodiesel. The Government has a four-pronged biofuels strategy in order to:
- reduce the greenhouse gas (GHG) emissions resulting from fuel use,
- encourage greater production of biofuels,
- accelerate the commercialization of new biofuel technologies, and
- provide new market opportunities for agricultural producers and rural communities.
On July 5, 2007, Prime Minister Stephen Harper announced one key aspect of this strategy, the ecoENERGY for Biofuels Initiative, which will invest up to $1.5 billion over 9 years to boost Canada's production of biofuels.
The initiative will provide operating incentives to producers of renewable alternatives to gasoline and diesel based on production levels and other factors. It will make investment in production facilities more attractive by partially offsetting the risk associated with fluctuating feedstock and fuel prices.
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