Argentina confronts biofuels craze

BUENOS AIRES, Argentina -
Argentina's government is hopping on the biofuels bandwagon by offering tax incentives for new initiatives and saying 5 percent of the nation's fuel supply must be biodiesel- or ethanol-based in three years. Hector Morales, executive director of the Inter-American Development Bank, said the bank has allotted $3 billion in credit to finance biofuels projects in Latin America in the coming years. Two-thirds of that financing will go to Brazil, which produces 40 percent of the world's biofuels, Morales said...
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