Can Biofuels Replace Fossil Fuels?

Reference work entry
Part of the Handbook of Hydrocarbon and Lipid Microbiology book series (HHLM)

Abstract

Because transportation fuel demand continues to grow and petroleum maintains a dominant position in the market, stable supportive policy is needed to enable biofuel to replace fossil fuels. Biofuel production and use grew rapidly in the first decade of the twenty-first century in countries that created welcoming business environments by implementing effective market mandates. Rapidly maturing technology has made biofuels cost competitive with fossil fuels. However, production and use slowed and consolidated as wavering public policy and economic uncertainty destabilized the business environment. Stable policies that help coordinate engine and fuel specifications, support the emergence of new feedstock commodity markets, and lower the cost of capital for biorefinery construction can help biofuel producers overcome remaining challenges.

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Copyright information

© Springer International Publishing AG, part of Springer Nature 2017

Authors and Affiliations

  1. 1.Biotechnology Innovation Organization (BIO)WashingtonUSA

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