Biotech Updates

Realizations in the Evolving Biofuel Industry

November 28, 2008
http://www.biofuels-news.com/content_item_details.php?item_id=125

A recent feature from the Biofuels International website traced the beginnings of the biofuels industry, its development and realization, as it continues through its stages of “evolution”. According to the feature, the “biofuels revolution” was born in Europe five years ago, from ambitious environmental, energy security and national security policies. From the EU Biofuels Initiative for Transport in 2002, global interest and policy formulations for the development of biofuels “took root” in the United States, then in other countries like China and India. National support for biofuels, in the form of mandates, subsidies, tax incentives and Research/Development grants, resulted in the rapid development of the biofuels industry. However, as industry and investment in biofuels grew, countries have realized that increasing capacities of the biofuels industries were growing beyond the agricultural capacities of available arable lands. Adaptation to changes in market situations will be necessary for survival..