Crude Oil’s Crash Jeopardizes Asia’s Cleaner Fuel Ambitions
- Petroleum slump makes discretionary blending of palm unviable
- Price plunge will inflate costs of government biofuel mandates
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Shockwaves from the oil price crash have hammered Asia’s biofuels industry, upending optimism over its future.
“These are unprecedented times,” said Alvin Tai, an analyst at Bloomberg Intelligence. Crude’s nosedive erases any chance of discretionary blending of palm oil with diesel, and drastically inflates the cost of government mandates.