The Future Looks Promising! I thought fellow shareholders might find this article interesting:
IEA: Biofuels to represent 27 percent of fuel supply by 2050
by Erin Voegele
| April 25, 2011
A report released April 20 by the International Energy Agency determined that, when produced sustainably, the widespread deployment of biofuels can play an important role in reducing CO2 emissions in the transportation sector. The report, titled “Technology Roadmap: Biofuels for Transport,” also noted that biofuels can help enhance energy security.
According to the report, production of biomass-derived fuels is a key technology that will aid in carbon dioxide emissions reductions. The report also demonstrates that global biofuel consumption can increase in a sustainable way, from 55 million metric tons of oil equivalent today, to 750 million metric tons of oil equivalent in 2050. The report defines sustainable fuel production as that which results in significant life-cycle environmental benefits without compromising food security. The projected increase would ultimately mean that total percentage of petroleum-based transportation fuels replaced by biomass-based counterparts would increase from approximately 2 percent today to 27 percent in 2050.