Biofuels Boom
Global Insight, Inc., the world’s leading company for economic and financial analysis and forecasting, says in its study, “The Biofuels Boom: Implications for Automotive, Agriculture & Energy,” that more than 100 billion gallons of bioethanol and biodiesel will be produced globally per year by 2030, an amount equal to more than 15% of the world’s motoring fuel needs. Among several major conclusions about current and future technologies, the study reports that
- Projected technological improvements could result in biofuels representing 15% of the global motor fuel demand and as much as 35% of demand in the United States and Brazil
- Corn- and sugarcane-based feedstocks will remain the lowest-cost sources of bioethanol in the world
- Automotive manufacturers do not require technological breakthroughs to adapt to reasonable levels of biofuels and that they can and will respond to clear direction in the area of biofuels
Non-food crops, such as jatropha (a succulent perennial that produces oil seed) grown on marginal lands, and pond-grown algae, will become important sources of biodiesel fuel, reducing dependency on edible oils, such as soybeans, canola and palm, the study reported. The study also found that biodiesel levels of 5% are possible in virtually all vehicles and that new vehicles can be developed to accept blends up to 30%.
The comprehensive study was conducted by Global Insight’s Agriculture, Automotive and Energy Groups who worked with some 20 companies and organizations representing different perspectives of the biofuels industry. The Global Insight team included Dr. Gil Rodgers, senior director of the Energy Group; Philip Gott, director of the Automotive Consulting Group, and Stewart Ramsey, director of Agriculture Services. The international study was released recently at a conference in Monaco sponsored by the Fondation Prince Albert II de Monaco.
Additional information on the results of “The Biofuels Boom: Implications for Automotive, Agriculture & Energy” are available by going to www.globalinsight.com/biofuels.
