Biofuels – on the way up?
World fuel ethanol and biodiesel demand increased steadily from 2008 to 2011, with world ethanol demand being 3.8 x higher than biodiesel in 2010 and around 3 x higher at the end of 2011. The IEA forecast for 2016 is that biofuels production will increase by over 28% from the 2010 figures.
The IEA also forecast that by 2016:
- Ethanol will displace 5.3% of total gasoline demand
- Biodiesel will displace 1.5% of total diesel demand
- Ethanol production will be 3.8-3.9 x higher than biodiesel
Find out what Claudiu Covrig, PhD, Biofuels Market Research Analyst at Kingsman thinks – download his presentation from the 2011 Agriculture Investment Summit Europe.