Global Production Boom
U.S. biofuel production will help propel a global surge in unconventional liquid fuels during the next 30 years, according to the latest long-term projections from the Energy Information Administration.
Worldwide biofuel production will rise from 1.3 million barrels per day in 2010 to 2.7 million barrels per day in 2030, the EIA forecasts, with the U.S. accounting for almost half the growth, thanks largely to ethanol.
Meanwhile, a declining share of the world’s liquid fuel supply will be made up of conventional oil.
It’s further proof that ethanol is an important part of the solution to our energy needs.
Sources:
Energy Information Administration. “World Energy Use Projected to Grow 50 Percent between 2005 and 2030,” June 25, 2008
Energy Information Administration. “International Energy Outlook 2008,” June 25, 2008
