Panama: New Biofuels Law Aims to Reduce Oil Dependency
The government of Panama is mulling a draft biofuels law that would include biodiesel and ethanol mandates. Projected to be approved by the National Assembly by July 2010, it is believed that the new law will include a provision allowing cars to use up to 10 percent ethanol.
The move is part of an attempt to reduce the country’s dependency on foreign sources of oil. Currently, it imports 70% of its energy. Virtually all of the oil consumed within its borders is imported.
Panama shows promising potential for sugarcane to produce ethanol and palm oil to produce biodiesel.
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