The amount of biofuels being produced in the world will double between 2010 and 2030… and that represents a significant increase from previous U.S. government estimates of how much ethanol and biodiesel will be produced in the future.
This story from Reuters says a report from the U.S. Energy Information Administration says biofuels will be “an increasingly important source” of global energy supplies over the next two decades:
Global biofuels production will rise from 1.3 million barrels per day in 2010 to 2.7 million bpd in 2030, with the United States accounting for almost half that growth, EIA said in its new long-term forecast.
The forecast marks a big jump from the EIA’s previous estimate of 1.7 million bpd of biofuels production by 2030.
The boost will help renewable fuels take up about 8.5 percent of global energy use by 2030, up from about 7.7 percent in 2005, the EIA said.
The report goes on to say that U.S. biofuels output will grow from half a million barrels each day in 2010 to 1.2 million barrels each day in 2030.