Today the International Energy Agency (IEA) released its World Energy Outlook and accused crude oil of exacerbating climate change and putting the brakes on global economy growth. In response, the Global Renewable Fuels Alliance (GRFA) said biofuels are able to improve the global economy and environment. Bliss Baker, spokesperson for GRFA said there is evidence that shows increasing global biofuels production will not only break or cripple addiction to crude oil but have a positive impact on economy and environment.

The IEA report argued that the current energy system is unsustainable and that is is “putting a brake on our economy” because the crude oil industry is receiving record subsidies and oil prices are still at an all time high. Earlier this year, GRFA commissioned a report that found that in 2010, the global biofuels industry contributed $277.3 billion to the global economy and supported nearly 1.4 million jobs.

Today’s World Energy Outlook also forecasted that global energy demand will increase by more than 1/3 between now and 2035. It also estimated that energy-related CO2 emission will rise to 37 gigatonnes in 2035, up from 31.2 gigatonnes in 2011. The report states that this could result in a long term average temperature increase of 3.6 °C.

The GRFA forecasts that ethanol production alone will reduce greenhouse gas emissions by 100 million tonnes globally, or 276,000 tonnes of GHGs per day.

Baker concluded, “It has been clear for years that crude oil has been a drain on our economy and toxic to our environment. Biofuels offer a positive economic boost and cleaner air. We must quickly adopt policies that encourage the development of crude oil alternatives like biofuels for the sake of our economy and environment.”