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The government should take advantage of the lower price of nature-friendly biodiesel by raising coconut methyl ester’s mix to diesel to 5% so as to generate huge foreign exchange savings equivalent to P23.4 billion yearly.
The Philippines was a pioneer in 2006 in adopting the biodiesel technology through CME, being itself then the biggest exporter of coconut oil. Along with the cheaper price now of biodiesel compared to fossil fuel-based diesel, the Philippines is missing on the other advantages of a higher biodiesel mix. These are improved vehicle mileage and the reduced pollutant carbon dioxide emission to the environment.
“The National Biofuels Board has not championed B5 despite its merits. Misinformed politicians campaign against biofuels,” according to PCAFI in a position paper.
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