News International Sugar Journal

World Bank links expansion in biofuels production with oil price [Registered]

The impact of hikes price of oil on the global expansion of biofuels is highlighted in a recent study by the World Bank. The study shows that a 65% rise in oil prices by 2020 from the 2009 level would increase global biofuel penetration to 5.4% in 2020 from just 2.4% in 2009. A doubling of the oil price in 2020 from its baseline level, or a 230% increase from the 2009 level, would however increase the global biofuel production in 2020 to 12.6%. Countries that would significantly expand biofuels under these circumstances include Brazil, India, Malaysia, Russia and the…

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