CleanTechnica•about 16 hours ago
Global Biofuel Demand Set to Grow by Nearly 70% as Food Prices Rise
Key Takeaway
Policy-driven biofuel demand, aimed at combating high oil prices, will intensify competition for agricultural resources, leading to increased food and fertilizer costs that impact developers and large power consumers.
AI Summary
- •Global biofuel consumption is projected to increase by 30% this year and a staggering 70% by 2030, primarily driven by efforts to combat high oil prices.
- •This surge in biofuel demand, spurred by 'high biofuels targets,' is expected to exacerbate rising global food prices and worsen fertilizer shortages.
- •The increased competition for agricultural feedstocks will put severe pressure on land use and commodity markets, impacting developers involved in land-intensive projects and large consumers with agricultural supply chain dependencies.
Topics
emissionspolicy
Article Content
High biofuels targets will exacerbate rising global food prices, as well as fertilisers shortages. The current scramble for biofuel feedstocks to combat high oil prices could see biofuel consumption globally rise by 30% this year and a staggering 70% by 2030, a new T&E study shows. This risks putting severe pressure on ... [continued] The post Global Biofuel Demand Set to Grow by Nearly 70% as Food Prices Rise appeared first on CleanTechnica .