USDA reveals $168 billion cost of 2022 biofuels target
America will need to build 527 biorefineries at a cost of $168 billion to meet the 2022 target of the Renewable Fuels Standard. That is according to the US Department of Agriculture, which said yesterday that it expects the biofuels market to react to the need for more renewable fuels infrastructure. It is expecting the cost of new advanced biofuels plants to be equivalent to $8 per gallon, although as more and more plants are built the costs would come down. And, in a new USDA report on the road ahead under the Renewable Fuels Standard, other costs to be met include at least $12 billion for fuel distribution infrastructure.
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