OECD survey says that agrofuels will only have limited impact on climate change.
The OECD report estimates that the US alone spends USD 7 billion a year to help producing ethanol, with each tonne of CO2 avoided costing more than USD 500. The survey asks governments to scrap subsidies for agrofuels because the current rush leads to increasing food prices and is a threat to natural habitats.
For the full report:
OECD report (pdf)