Brazil and the United States control nearly 75 percent of the world's ethanol market, the best-known biofuel. Ethanol is an alternative fuel made mostly from corn and blended with gasoline.
Antonio Patriota, the Brazilian Ambassador, explained that a thriving international biofuels market is not only good for large, industrialized nations, but also for poorer countries that can supply the market with the agriculture crops it needs. From Voice of America:
"For developing countries, greater resort to biofuels means significantly reducing their dependence on imported oil, redressing their trade imbalances, and saving income in order to increase investment in health, education and social development. Besides generating environmental benefits off course."
In his State of the Union Address, President Bush declared that the United States should increase its biofuels production to 35 billion gallons by 2017.
Not likely, says Guy Caruso, head of the U.S. Energy Information Administration. He says that based on existing technologies, policies, and economics, President Bush's target is unrealistic. Only a minimum amount of ethanol will be coming from sources other than corn in the coming decades, he expects, and will not be able to meet President Bush's target. The White House and the Energy Department dispute the analysis.