Biofuels are being touted as the solution to Europe’s dwindling oil supplies, as the war on Iran continues to send prices soaring. ADVERTISEMENT ADVERTISEMENT European Commissioner Dan Jørgensen has urged nations to outline measures to reduce the use of oil and gas, particularly in transport. It comes after ministers gathered on Tuesday (31 March) to address a global shortage of 11 million barrels of oil per day. Much of the panic revolves around the effective closure of the Strait of Hormuz – one of the world’s biggest fossil fuel chokepoints – which carries around one-fifth of the world’s oil supply….