The use of biomass for biofuel production won't mitigate biofuels' negative effect on the environment, the Organization of Petroleum Exporting Countries said Wednesday.
While the biofuel industry's move towards using more crop byproducts, including corn stover and cobs, rather than food products for production will reduce the effect on food prices, OPEC is critical of its impact on the environment.
"The usage of biofuel has not only raised food prices within the U.S. but has also caused climate change through massive deforestation," said OPEC in its monthly report. "The industry has been living on subsidies and, with the current economic downturn, its future does not appear to be bright."