HAMBURG (Reuters) - Large new investment incentives will be needed to promote the development of alternative biofuels after the European Union's move to curb the use of fuel derived from food crops, a unit of Royal Dutch Shell Plc said on Tuesday.
The executive European Commission announced a major shift in biofuel policy on September 17, saying it plans to limit crop-based biofuels to 5 percent of transport fuel. Campaigners had argued that existing rules were taking food out of people's mouths.
In a biofuels study presented on Tuesday, Deutsche Shell said companies would need help with the costs of developing and producing new second-generation biofuels to meet that goal.
