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People & Business :: Green Issues

Study: Biofuels Could Replace 50% of Gasoline by 2030

10:09 AM MST | January 26, 2012 | Sotirios Frantzanas

Advanced biofuels are set to become an important factor in the global economy and could replace more than 50% of the world's gasoline demand in 2030, according to a report by Bloomberg New Energy Finance. The report dubbed "Moving towards a next-generation ethanol economy" was commissioned by Novozymes (Copenhagen), and has been launched at the World Economic Forum at Davos, Switzerland. It could also diversify farmer's income and generate revenues in the range of $1-4.4 trillion from today to 2050, and create millions of jobs, the...

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