biofuels

Dramatically rising crude prices inspiring calls for greater emphasis on bio-fuels

Dramatically rising crude oil prices -- the price for light sweet crude stood at $102.29 on the New York Mercantile Exchange Tuesday afternoon, while the price of ICE Brent crude was $121.74 a barrel -- is prompting fears of an energy-induced fall back into recession and inspiring calls for greater adoption of bio-fuels.
Dramatically rising crude prices inspiring calls for greater emphasis on bio-fuels

On Tuesday the Global Renewable Fuels Alliance, a Canadian bio-fuels advocacy group, called on the G20 to enact aggressive bio-fuels policies to reduce what the alliance called "our crippling reliance on crude oil."

The Toronto-based group pointed to a recent warning from Fatih Birol, chief economist at the International Energy Agency, who asserts that the global economy could be hit with another recession triggered by escalating crude oil prices.

High oil prices have preceded every global recession since the early 1970’s with the most recent economic collapse in 2008 being preceded by record-breaking crude oil prices that topped $147.50 per barrel.

According to the GRFA, world biofuels production is currently contributing over one million barrels of oil equivalent to global energy supplies. The GRFA expects global production to grow by approximately 3% this year without any significant policy changes.

“We must do more to encourage the development of alternatives to crude oil such as ethanol and biodiesel. The IEA has stated that by 2050, biofuels could produce 27 percent of the world’s transport fuels,” said Bliss Baker, spokesperson for the GRFA.

The Organization of Petroleum Exporting Countries (OPEC) has publicly acknowledged that "energy efficiency policies along with the use of biofuel will put more downward pressure on oil consumption worldwide."

According to the GRFA the recent rise in crude oil prices will be particularly hard on underdeveloped countries that are net importers of crude oil. When crude prices rise even slightly, the impact on the balance of trade of these countries is devastating. Today, 38 of the 47 poorest countries on earth are net importers of crude oil. Of those 38 countries, 25 import all of their crude oil requirements.

For additional information:

The Global Renewable Fuels Alliance

Baterías con premio en la gran feria europea del almacenamiento de energía
El jurado de la feria ees (la gran feria europea de las baterías y los sistemas acumuladores de energía) ya ha seleccionado los productos y soluciones innovadoras que aspiran, como finalistas, al gran premio ees 2021. Independientemente de cuál o cuáles sean las candidaturas ganadoras, la sola inclusión en este exquisito grupo VIP constituye todo un éxito para las empresas. A continuación, los diez finalistas 2021 de los ees Award (ees es una de las cuatro ferias que integran el gran evento anual europeo del sector de la energía, The smarter E).