Latin American and Caribbean countries bet on biofuels
This seminar, the second after the inaugural 2006 edition, was backed up by the Inter-American Institute for Agriculture Cooperation (IICA in Spanish acronyms) and the Latin American Energy Organisation (OLADE).
One of the conclusions of this seminar is that the rising prices will make it hard for those countries to satisfy their needs in the next 40 years. World oil demand is expected to raise from 120 million barrels per day to 170 million in 2020 - and there's not enough for everybody. Therefore it's necessary for these countries to find alternatives to oil, either biofuels or to get energy from other sources of biomass.
The problem with these countries to develop their industry is the lack of funding. Despite Brazil's efforts to give away its ethanol technology (also with interest, since it exports raw materials to produce those biofuels, nobody is a saint), money is scarce and foreign investors focus on more profitable endeavors.
Finally, it was also mentioned that biofuels are one of the solutions to fight human-induced global warming.
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