Global Biofuels Output Could Surge 70% Amid Energy Crisis

AI Summary

Global biofuels production is expected to increase by nearly 70% by 2030 due to higher fuel-blending mandates amid the energy crisis triggered by the Middle East conflict. Countries like the US, EU, and Brazil are investing more in biofuels such as ethanol as fossil fuel prices surge.

Global biofuels production is projected to surge by nearly 70% by 2030 as major producing countries raise their fuel-blending mandates in response to the energy crisis triggered by the Middle East conflict, a study co-authored by British think tank Chatham House and Forest Stewardship Council has found.  Biofuels like ethanol, which typically originate from food crops or animal feed and are mixed with gasoline or diesel, become more cost-competitive as crude oil and gasoline prices spike. Several countries, including the U.S., the EU, Brazil,…