Energy crops could add 15 billion euros to GDP

Professor Danalatos maintains that the overall additional value from the importation and cultivation of energy crops for a target of biofuel production equal to 5 million tons of fuel could boost GDP by at least 15 billion euros a year, if at the same time the balance of trade decreases by 4.5 billion euros because of lower oil imports (by 3 billion euros) and higher agricultural exports (by 1.5 billion euros).

Professor Danalatos stresses that the increase in GDP could be even higher because of construction, repair, and commerce of biofuel machinery and the increase in transportation due to the greater bulk of biofuel.

This would also bring about great ecological benefits, like nullifying soil erosion of around 600,000 hectares, lowering of nitrous pollution, by 75,000 tons of nitrous based fertilizers, lower pollution from other agro-chemicals, significant improvement of soil fertility, and a decrease in water use by 800 million cubic meters a years. The measure would also improve the biodiversity of the Greek countryside and improve rural life, in general.

The program foresees the production of 10 million tons of biomass from low input cultivation (wild artichoke, switch grass, etc) for the production of the biofuel (chips, pellets, briquettes, etc) that will substitute 5 million tons of oil, worth 3 billion euros, or about 25% of oil imports.