Memo: Promoting biofuels as credible alternatives to oil in transport

With the significant rise in oil prices and the growing concern about stable, secure and environmentally friendly energy supplies, the promotion of biofuels use in transport is a priority on the European political agenda. Today, biofuels are the only way to significantly reduce oil dependence in the transport sector. As part of its Energy Policy for Europe, the Commission is committed to encouraging the production and use of biofuels by proposing to set a binding minimum target for biofuels of 10% of vehicle fuel by 2020.