China to Invest in Bio-Fuel Development

Shanghai, China [Associated Press] ET Ethanol blends accounted for 20 percent of all gasoline used in China last year, the government said Thursday, saying it would invest further to develop the bio-fuel as a safeguard against rising oil prices. Output of ethanol from the country’s four refineries reached 1.02 million metric tons last year, the National Development and Reform Commission said in a statement posted on its Web site. … China began experimenting with the grain-based fuel in 2002, and industry groups now place the country third in the world in ethanol production, behind leader Brazil and the United States.

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