Worldwide ethanol production will replace one million barrels of oil per day this year, according to the latest forecast by the Global Renewable Fuels Alliance (GRFA).
In its global annual ethanol production forecast released today, the GRFA forecasts ethanol production to hit 88.7 billion litres in 2011, up three percent from 85.8 billion litres in 2010. Global production has now surpassed 550 million barrels of ethanol per year according to data compiled by F.O. Licht.
The United States continues to be the largest ethanol producer in the world with production levels expected to reach over 51 billion litres (13.5 U.S. gallons) in 2011.
“While energy security issues continue to preoccupy American policy makers, U.S. ethanol production will eliminate the need for over 212 million barrels of imported crude oil worth $21 billion in 2011,” said GRFA spokesperson, Bliss Baker. “There is no doubt that ethanol production today is reducing our reliance on foreign oil, but there is more we can and should do,” added Mr. Baker.
The African continent has tremendous potential for biofuels production; however, production levels remain very low despite recent efforts by some countries to kick-start biofuel programs. The African continent is forecast to produce 170 million litres of ethanol in 2011, despite sub-Saharan Africa having one billion hectares of rain fed, crop producing land that could be producing biomass for ethanol according to the United Nations Food and Agriculture Organization.