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In Germany, the narrative of the multiple benefits of biofuels became manifest in a comprehensive tax exemption adopted in the early 2000s. Already in 2006, however, this tax exemption was repealed and replaced with a mandatory quota. The biofuel boom initiated by the tax exemption was thereby slowed down and the diversification of the actor landscape in German fuel economy reversed. Essentially, this contribution links this eventful history of German biofuels policy with the development and transformation of the 'win- win' narrative and hence with the question of which discursive construction of biofuels is represented in the respective policy decisions and their effects. It shows that the changes in German biofuels policy can only be understood in the context of overarching processes of neoliberalization, which are clearly reflected in the development of German biofuels policy.