Biofuels as Alternative Sources of Energy
Biofuels are produced by converting organic matter
into fuel for powering our society. These biofuels are an alternative
energy source to the fossil fuels that we currently depend upon. The
biofuels umbrella includes under its aegis ethanol and derivatives of
plants such as sugar cane, as well as vegetable and corn oils. However,
not all ethanol products are designed to be used as a kind of gasoline.
The International Energy Agency (IEA) tells us that ethanol could
comprise up to 10 percent of the world's usable gasoline by 2025, and up
to 30 percent by 2050. Today, the percentage figure is two percent.
However, we have a long way to go to refine and make economic and
practical these biofuels that we are researching. A study by Oregon
State University proves this. We have yet to develop biofuels that are
as energy efficient as gasoline made from petroleum. Energy efficiency
is the measure of how much usable energy for our needed purposes is
derived from a certain amount of input energy. (Nothing that mankind has
ever used has derived more energy from output than from what the needed
input was. What has always been important is the conversion—the
end-product energy is what is useful for our needs, while the input
energy is just the effort it takes to produce the end-product.) The OSU
study found corn-derived ethanol to be only 20% energy efficient
(gasoline made from petroleum is 75% energy efficient). Biodiesel fuel
was recorded at 69% energy efficiency. However, the study did turn up
one positive: cellulose-derived ethanol was charted at 85% efficiency,
which is even higher than that of the fantastically efficient nuclear
energy.
Recently, oil futures have been down on the New York Stock Exchange, as
analysts from several different countries are predicting a surge in
biofuel availability which would offset the value of oil, dropping crude
oil prices on the international market to $40 per barrel or thereabouts.
The Chicago Stock Exchange has a grain futures market which is starting
to “steal” investment activity away from the oil futures in NY, as
investors are definitely expecting better profitability to start coming
from biofuels. Indeed, it is predicted by a consensus of analysts that
biofuels shall be supplying seven percent of the entire world's
transportation fuels by the year 2030. One certain energy markets
analyst has said, growth in demand for diesel and gasoline may slow down
dramatically, if the government subsidizes firms distributing biofuels
and further pushes to promote the use of eco-friendly fuel.
There are several nations which are seriously involved in the
development of biofuels.
There is Brazil, which happens to be the world's biggest producer of
ethanols derived from sugars. It produces approximately three and a half
billion gallons of ethanol per year.
The United States, while being the world's greatest oil-guzzler, is
already the second largest producer of biofuels behind Brazil.
The European Union's biodiesel production capacity is now in excess of
four million (British) tonnes. 80 percent of the EU's biodiesel fuels
are derived from rapeseed oil; soybean oil and a marginal quantity of
palm oil comprise the other 20 percent.
About the Author: D. Benjamin is the owner of
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