Malaysia to introduce Biodiesel this year
Prices of fuel didnt went up in Malaysia as what was rumoured before the New Year 2008 struck at 12 am. However, this doesn’t mean that the government will not announce a price increase for our petrol and diesel in the near future. We as consumers of the precious commodity are pushed to the edge to hope for a better alternative if prices keep on surging . Looks like the year of the Rat is bringing in sweet news to our ears.
Biodiesel - The next best thing to happen after petrol
According to Reuters, Malaysia is most likely to introduce palm oil-blended diesel in the local market in 200, an effort to save the domestic biofuel industry. Currently, there are plants available for processing palm oil into biodiesel but seems that the operating costs and prices of palm oil in the global market as too high for producers to produce.
Perhaps these producers may now breathe a sigh of partial relief that something is being done. For starters, Malaysia will blend 2% of palm biodiesel with regular diesel. Which means, our fossilized diesel will be mixed and blended with palm oil for combustion.
The chairman of the Malaysian Palm Oil Board, Sabri Ahmad, told to Reuters that this initiative is a must for Malaysia due to soaring prices of palm oil by 50% from last year, thanks to global food demand.
He said that Malaysia must implement it because neighbouring countries like Thailand and Indonesia have made it mandatory.
Soon, petrol-driven cars will be made cheaper for the public because of the trend and need in biodiesel, I presume.
Source : Reuters
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The price of biodiesel is not going to be as cheap as fossil fuel. This is because the current palm oil price has drastically escalated. Perhaps the government subsidy get reduce the price. But how long are we going to depend on the subsidy?