When it comes to win-win-win situations, few appear to be more obvious than the move to kick-start a biofuel industry in Australia. Late last month, the federal government announced it was allocating $1.1 billion to develop a local, low-carbon liquid fuels production sector.

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Crops such as canola, sorghum and sugar, as well as agricultural waste, would go towards the production of high-value aviation fuel and renewable diesel, with real potential for Australia to become a leader in this field.

The first obvious advantage is opening up more markets for Australian farmers. There are estimates

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