Biofuels conference highlights dependence on subsidies
Also mentioned at the conference was the need for biofuel certification criteria based on the actual feedstock used, and the impact biofuels are having on food production. It was said that sometime in 2007 world biodiesel consumption is expected to outstrip world soybean production, and also in 2007, US corn for ethanol consumption will again outstrip US corn exports.
Clearly biofuels have a lot of significant challenges in the year's to come. Although if crude oil prices were to hit $115 a barrel, biofuel producers would have a bonanza.
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