This story in Biofuel Review says that a report by the energy intelligence agency Emerging Markets Online says biodiesel growth is set to explode over the next 10 years… fueled by a new U.S. commitment to biofuels (remember President Bush’s 20 in 10 proposal – 20% alternative fuels in the next 10 years) and ramped up production in other parts of the world:
“It is possible that Biodiesel could represent as much as 20% of all on-road diesel used in Brazil, Europe, China and India by the year 2020. If governments continue to aggressively pursue targets; enact investor-friendly tax incentives for production and blending; and help to promote research & development in new biodiesel feed stocks such as algae biodiesel, the prospects for biodiesel will be realized faster than anticipated. Biodiesel 2020 finds that each of these variables will be essential to the eventual success of these targets,” author William Thurmond notes.
The report goes on to say that the U.S. is the fastest growing biodiesel market in the world with domestic plants having trouble keeping up with demand.