The expert opinion on the future of biofuel industry
According to the statistics provided by the experts, world daily production of biofuel (including ethanol, biodiesel) has decreased from 1 822 million in 2010 to 1, 819 million in 2011. Many companies are going bankrupt while the subsidizing of the biofuel segment is reduced. What is the outcome?
This question is of interest to many people and the opinions of the experts on this subject vary. Some experts believe that the decline in activity in the market of biofuel will lead to the rise in the price of oil.
The analysts believe that it is too early to draw conclusions. Summing up the achievements and failures in the biofuel market has not yet taken place, while Brazil continues to surprise with statistical data: the market of liquid fuels in the country consists by 40% of liquid biofuel products.
Even if the U.S. and Brazil are to change their policy as the most powerful producers, the radical transformation is not expected. Moreover, some countries in the Middle East are introducing the practice of building solar power plants with the capacity of 500 MW.
According to the independent expert services, by 2050 the total world energy balance will be comprised by half of alternative energy sources.
The EU plan known as “20/20/20†that entered into force last year instills confidence in the possibility of long-term future for the biofuel segment. That is, by 2020 the EU countries have to increase the share of alternative energy sources to 20% in total energy consumption.
