• The Non-Economic Benefits of Biofuels

  Filed under biocatalysis, biofuels
  Feb 24

  What is indisputable is that every gallon of biofuels generated replaces roughly a gallon of fuel that would otherwise come from petroleum (the equation is not exact due to the varying energy value of different biofuels). This both reduces our dependence on foreign oil and extends our domestic oil supply. Economics are another matter. Biofuels cannot compete with petroleum at today’s (February 2009 when this was written) oil prices of less than $40 per barrel. But biofuels do help set a cap on the price oil. What that price level is remains a subject for debate and varies from one biofuel to another. Delving into the details of the cost of biofuels is a topic we will address another time. It is important, however, to acknowledge that the capping effect on fuel prices exists as long as biofuels are maintained as a viable alternative. 

  Tagged as: biofuels
  
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