Biofuels may prove beneficial in certain local applications like using crop residues to fuel farms, and running vehicles on waste oil otherwise discarded, but the wide scale use is still a costly affair.
Many well-known industry analysts have voiced over the issue of fast divergence of food crops toward biofuel production for automobiles.
Lester Brown, the founder of WorldWatch Institute, US, long worried about the sustainability of global food supplies, cautions in a statement reported by TechNewsWorld on March 18, 2007, "Cars, not people, will claim most of the increase in grain production this year." The grain required to make enough ethanol to fill an SUV tank is enough to feed a person for a whole year".
The boom in the biofuel industry is impacting the whole world significantly. Brazil, the most impressive success story in biofuel production so far, is using 50% of its yearly sugarcane production to satisfy its 40% of automobile fuel needs while fast felling down trees to grow more soybeans and sugarcane.
Indonesian and Malaysian rainforests are being destroyed for the plantation of oil palms, proving life-threatening to endangered rhinos, tigers, orangutans, and innumerable other species to serve the burgeoning European market for biodiesel.
A recent report of World Wildlife Fund (WWF) for the International Energy Agency (IEA) raises serious concerns about this new approach to achieve energy liberalization in future. It has been found that 80% if the greenhouse emissions in Brazil come not from vehicles, but, shockingly, from deforestation - the release of embedded carbon dioxide during deforestation and burning of forests.
Technology and lifestyle modification, that can substantially slash the energy consumption, holds the solution of the problem. However, no one has worked out how to cash-in on efficiency and conservation.
According to the RNCOS report "Biofuel Market Worldwide (2006)", renewable sources of energy were initially developed by the industrialized nations and later, embraced by developing nations on economically emulous terms. Technological advancements lead to the replacement of first generation biofuel with biodiesel and bioethanol, the second generation of biofuel with significantly better performance. So the second generation of renewable energy resources made a better footing in the market.
The market research report analysis all the major economies of the world using biofuel with statistical account on past trends and future forecasts. Cost analysis, situation and impact analysis, and sensitive factor analysis of the market has been discussed in detail. It highlights the major biofuel development plans undertaken by different countries coupled with development trends adopted by them.
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RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
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