Australia allocates 735 million dollars for the development of biofuels

The Australian government announced on Wednesday an investment of 1.1 billion Australian dollars (735 million dollars) in the development of low-carbon energy. This move has been welcomed by agricultural organizations, which hope that it will increase demand for raw materials for biofuels such as canola and sugarcane. In a press release, the government stated that these funds will be allocated over ten years to stimulate private investment in the sustainable production of aviation fuel and biodiesel. Australia is one of the world's leading producers of fuel crops such as sugarcane, canola, and sorghum. Australia imports most of its petrol and exports a significant portion of these crops. Australian canola is a key raw material for the European biodiesel sector. The statement says that "thanks to our advanced agricultural methods and access to cheap and reliable renewable energy, Australia has an enviable opportunity to produce cleaner and lower-carbon liquid fuel for airplanes, ...