Monday, March 05, 2007

Nations promote biofuels market

Some of the biggest players in the biofuels industry gathered at the United Nations on Friday to launch a forum to promote the use of biofuels and to create an international market for the product. Participating nations included the United States, Brazil, China, India, and the European Union.

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.

3 comments:

Biofuelsimon said...

They need to sort out global tariffs on biofuels if there is to be a fair market that benefits everyone.

Schultz said...

Hi, I recently posted my coverage of Governor Ed Rendell's energy strategy speech in Pittsburgh this past Friday. He has big plans for biofuels, cellulosic ethanol, and solar for the state of PA.

Green is Good

Maria Energia said...

Thanks Chris! You have a great blog going - I've added a link to my blogroll.