Biofuels Not so Easy to Replace

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TheBioenergySite Latest News

Tuesday, May 13, 2008

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Biofuels Not so Easy to Replace

GENERAL - To replace the global supply of ethanol and biodiesel-based biofuels added to the U.S. and European markets since 2005 would require an additional 1 million barrels of crude oil to be processed per day, the International Energy Agency said Tuesday.

Rising food prices have damped the political will behind biofuel policies, however, the IEA said it was unlikely biofuel targets would be scrapped in the near term.

"It is sobering to realize the amount of oil that would be needed to replace them," said the IEA.

Global biofuels supply is expected to grow to 1.5 million barrels per day in 2008, said the report.

TheBioenergySite News Desk