Brazil is projected to consume more ethanol than gasoline by 2020, when flexicar sales are predicted to dominate the car market in the country. Flexicars have engines that run on both ethanol and gasoline. By 2020, about 57% of fuel consumption in flexicars is expected to be ethanol. Considering this trend, the state-run oil company Petrobras has plans to adapt  biofuel generation technologies by shrinking its oil business, and “shifting its core activities” . The company has recently announced plans to enter into the bioethanol industry, buying stakes in about 40 Brazilian ethanol plants, and investing in 20 new ethanol plants. Brazil is the second largest world ethanol producer after the United States, using sugarcane as feedstock (the United States uses corn as a major feedstock). According to the Brazilian Energy Minister, Nelson Hubner, ethanol provides about 18% of the country’s transport fuel needs..