Biofuels as Alternative Sources of Energy
Biofuels are produced by converting organic matter into combustible fuel and thus making an alternative energy source to the fossil fuels on which we currently depend. The biofuels umbrella includes ethanol and plant-derivatives such as sugar cane, vegetable and corn oils.
This does not mean all ethanol products and plant derivatives are a one-for-one replacement fuel for the existing systems that burn them, nor that swap-over can be immediate. Either new types of motors are required, or significant adaptations to existing motors are required in many cases to allow conversion to happen. So conversion is going to be a gradual thing. 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 biofuels and make them economic and practical. We have yet to develop biofuels that are as energy efficient as gasoline made from petroleum. Corn-derived ethanol is only 20% energy efficient (Efficiency being the ratio of energy output by a reaction versus energy consumed in it). Gasoline made from petroleum is 75% energy efficient. Biodiesel fuel is about 69% efficient. And amazingly cellulose-based ethanol is 85% efficient.
Oil futures on the New York stock exchange are under speculation as analysts across the world predict a surge in biofuel availability which will offset the value of oil, dropping crude oil prices on the international market to $40 per barrel or thereabouts. Conversely the Grain futures market on the Chicago Stock Exchange is starting to “steal” investment activity away from the oil futures in the NYSE, as investors are definitely expecting better profitability to start coming from biofuels and therefore agriculture. Indeed, it is predicted by a consensus of analysts that biofuels could be supplying seven percent of the entire world's transportation fuels by the year 2030. One energy markets analyst has said that growth in demand for diesel and gasoline would slow dramatically if governments subsidised firms distributing biofuels and further promoted the use of eco-friendly fuel.
There are several nations which are seriously involved in the development of biofuels.
Brazil is the world's biggest producer of sugar-based ethanol. It produces approximately three and a half billion gallons of ethanol per year.
The United States, whilst the world's greatest petroleum consumer, 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: Mike Howard, Director of Green Energy (Eu) is a rapidly-emerging expert in the field of Green Energy and power-saving electrical products for the home and office. With more than twenty years experience in top-end building Mike is sole UK distributor of the renowned Redwell Infrared Heating systems.
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