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Effects Of The Biofuel Boom
By Mr Ethanol | August 27, 2007
As biofuels become an economically competitive power alternative, life is changing fast for the whole agricultural sector.
BusinessWeek:
Sky-high energy prices are having some far-reaching effects: As corn and other crops become increasingly important raw materials for biofuels, such as ethanol or biodiesel, the companies that make and process them are starting to act more like energy companies. And as more acreage is being planted with sugar cane, corn, and soybeans to make biofuels, other crops are being displaced, decreasing their supply and spreading the effect of high energy costs across a wide range of food products.
With global oil prices hovering around $70 per barrel, investment is pouring into the development of biofuel technology and facilities to produce it. Ethanol production now accounts for about 20% of the U.S. corn crop.
Continue reading: Reacting to Oil.
Topics: Biofuel, Energy, Ethanol, News, Oil, Technology, Trends |
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