Good news for biofuel. Despite the anemic economy and the "weak-as-a-kitten" recovery, more drivers worldwide have switched to using it, particularly ethanol-based fuel. Because of soaring oil prices, cars are being filled up with the cheaper and more efficient fuel in the U.S. and Brazil as well as other countries. See this story from Worldwatch via ENN:
Biofuels Make a Comeback Despite Tough Economy
From: Worldwatch, Worldwatch Institute, More from this Affiliate
Published August 30, 2011 12:16 PM
"Global production of biofuels increased 17 percent in 2010 to reach an all-time high of 105 billion liters, up from 90 billion liters in 2009. High oil prices, a global economic rebound, and new laws and mandates in Argentina, Brazil, Canada, China, and the United States, among other countries, are all factors behind the surge in production, according to research conducted by the Worldwatch Institute’s Climate and Energy Program for the website Vital Signs Online. The United States and Brazil remain the two largest producers of ethanol. In 2010, the United States generated 49 billion liters, or 57 percent of global output, and Brazil produced 28 billion liters, or 33 percent of the total. Corn is the primary feedstock for U.S. ethanol, and sugarcane is the dominant source of ethanol in Brazil."
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Image courtesy of Costa Rica News.
