GENEVA, Switzerland, Sept. 26 (UPI) -- U.S. tycoon Ted Turner said Monday focusing on biofuels could help break stalled world trade talks.
Speaking at the World Trade Organization forum, Turner said a strong demand for plant-based fuels could assist farmers and reduce the need for state aid. He said subsidies and tariffs could be replaced by the support for biofuels, BBC reported.
The current five-year-long Doha round of trade talks have been suspended due to a failure to reach agreement among the 150 members to reduce agricultural subsidies and tariffs.
"Farmers have always grown crops for food and fiber," Turner said. "Today, farmers can grow crops for food, fuel and fiber. The global demand for biofuels is huge and rising. That's why I am confident that in the near future, farmers' incomes will be assured, not by subsidies and tariffs, but by market force."
Biofuels are a renewable energy source made from agricultural produce or its byproducts, including manure, rape seed, soy beans, cane sugar and palm oil. Biofuels include ethanol, which is used in cars, and biodiesel, which is used for trucks and generators.
The European Union is calling for biofuels to meet 5.75 percent of its transportation fuel needs by 2010.
