| Biofuels are when we use organic matter as fuel by | | | | made from petroleum). Biodiesel fuel had a recorded |
| converting it into power for use. By producing biofuels, | | | | energy efficiency of 69%. Out of the study came one |
| this is an alternative energy source as we depend on | | | | positive thing: higher than nuclear energy which is |
| fossil fuels. The ethanol products include under its | | | | effectively efficient, was cellulose-derived ethanol |
| aegis, derivatives of plants like sugar cane, and also | | | | charted as 85% efficient. |
| corn and vegetable oils, all part of the biofuels umbrella. | | | | The New York Exchange has marked a change in oil |
| Not all of them are designed for use as gasoline, | | | | for the future, with analysts from many countries |
| although the International Energy Agency (IEA) say | | | | having predicted surges in the availability of biofuels, |
| that by 2025, 10 % of the world's gasoline could be | | | | which would offset oil prices, seeing crude oil drop to |
| made up of ethanol products, and by 2030, it could be | | | | prices of about $40 per barrel on the international |
| up to as much as 30%. At the moment, the | | | | market. On the Chicago Stock Exchange there is |
| percentage stands at just 2%. | | | | more investment activity in future markets on grain, |
| A lot of research is going into biofuels, and it will be | | | | making a "steal" on the oil futures of New York, with |
| some time before we can refine them to make them | | | | investors expecting much better profitability from |
| more economic and practical enough to use. Oregon | | | | biofuels to come. By 2030, a consensus of analysts |
| State University have done a study to prove this. | | | | have predicted that biofuels will account for 7% of |
| Biofuels have not yet been developed which are as | | | | transportation for all round the world. Demand for and |
| energy efficient as petroleum which makes up our | | | | diesel and gasoline will slowly fall dramatically according |
| gasoline. To put it simply, energy efficiency is how we | | | | to one energy market analyst, as government |
| measure the usable energy that is derived from the | | | | supports the use of the more eco-friendly biofuels and |
| input energy by a certain amount. (Up till now we have | | | | subsidise the manufactures of this fuel. |
| not come up with any product where the output | | | | Many nations support the use of biofuels and its |
| energy exceeded that of what was input). What is | | | | production in developement. |
| most important is the end product energy that has | | | | Brazil is the biggest in the production of ethanols that |
| been converted and its usefulness for our society's | | | | are derived from sugars. Approximately three and a |
| needs, the effort involved is what we put into the input | | | | half billion gallons of ethanol is produced in a year. |
| energy so as to produce which is the end-product. A | | | | The greatest oil user is the United States, who already |
| study by the OSU found that ethanol which is | | | | come second behind the largest producer, Brazil, in |
| corn-derived was only 20% energy efficient | | | | biofuels. |
| (compared to gasoline that is 75% energy efficient and | | | | |