France says EU may need to reconsider biofuel goal

PARIS (Reuters) – The European Union may have to reconsider its target of getting 10 percent of transport fuel from renewable sources such as biofuels by 2020, or extend the deadline, incoming EU president France said on Monday.

Biofuel use is soaring as developed countries try to curb dependence on imported oil and cut emissions of carbon dioxide, but critics say the industry has encouraged deforestation and pushed up food prices by competing for grain.

The EU’s target, which is intended to spur investment, has been a particular focus of criticism.

Reuters