New Report says Surging Oil prices Shift Attention toward Biofuel

PRLog (Press Release) – Apr 24, 2008 – Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report showing that surging oil prices have shifted the world attention towards biofuel development.

“US Biofuel Market Analysis”, which is available at http://www.reportbuyer.com/go/RCS00413, reports that the US was ranked as the largest producer of ethanol (Biofuel) in 2006, capturing a market share of around 36% in the global production.

The report shows that the US is the largest oil importing country, and recent rise in oil prices at global level has driven the country to look seriously for the development of the biofuel industry. Apart from oil security, the government's strong stand for enhancing the use of renewable energy has been a motivating factor in the country.

However, the rising concern for the biofuel feedstock prices has opened a smooth growth path for the cellulosic ethanol in the US. In terms of production, biodiesel need more attention in the country.

Some of the key findings in this report are:

•   Corn is anticipated to dominate the future ethanol production in the US, however, cellulosic ethanol requirements are expected to boom during the period 2008-2017.
•   The US biodiesel sector needs strong support from the government as well as from technology point of view to sustain growth in the future.
•   Biodiesel prices in the US are expected to see a declining trend to push up commercial usage during 2008-2015.
•   Supply of raw material (corn and soybean oil) will be a major concern for the US biofuel industry in coming years.

“US Biofuel Market Analysis” is available from Report Buyer. For more information go to: http://www.reportbuyer.com/energy_utilities/alternative_ ...

Report Buyer product ID: RCS00413