Ethanol and biodiesel are experiencing what some are calling a “gold rush” as the biofuels have seen dramatic jumps in usage… and investors… to the green technology.
This column from Renewable Energy Access.com says, in the U.S., tax incentives have helped grow the biodiesel market by a whopping 1000 percent in just a two year stretch between 2004 and 2006:
An unholy alliance of characters is merging to promote biofuels. On the left, we have Woody Harrelson, Barack Obama, and Tom Daschle. On the right, we have Dubya (George W. Bush), his brother Jeb (a founder of the Inter-Americas Ethanol Commission), the former CIA director James Woolsey, a Christian coalition for environmental protection, and yes – believe it or not – Chevron, Marathon, Shell and British Petroleum all participating and actively promoting the biofuels sector for various business and regulatory reasons.
The article points out that things are poised to get even bigger as Pres. Bush unveiled his “20 by 10” plan, where the U.S. would switch to 20 percent biofuels by the year 2010. It’s the most ambitious renewable fuel plan in the world, and the author seems a bit surprised it came from an oil guy like Bush… but it seems to be a pleasant surprise.
The column finishes pointing out that growth for biofuels will be a good thing for all parties involved: Democrats and Republicans, hippies and capitalists:
But despite our innate human desire to cheer for a team like the D’s or the R’s, we should really be cheering for the B’s-the biofuels advocates, like Al Gore, Dubya and BioWillie who are part of the energy independence solutions instead of part of the problem. They are walking the walk, not just talking the talk. Why? Tax incentives for biodiesel and ethanol companies, are good and we will be able to fill ‘er up with cleaner fuels at more petrol stations if these tax incentives continue.
Interesting column. Give it a read by clicking here.