Decarbonizing the transportation sector is just one part of a potential goal for the UN and the G7 leaders, who met in Germany on Monday.
International Energy Agency
The International Energy Agency (IEA) is an independent, multi-government group formed out of the wake of the 1973 oil crisis. The Agency forecasts oil production and monitors international oil markets and energy sectors. Just five years ago, the IEA rather confidently predicted that oil production would rise to 120 million barrels per day by 2030. Well, there's been a change in outlook.
By 2050, biofuels could make up to 27 percent of total worldwide transportation fuel, according to a report published by the International Energy Agency (IEA). This, according to the IEA, would represent an increase in biofuel use to more than 750 million tons by 2050, up from 55 million tons today.
It's time to take a serious look at our country's federal gasoline tax. According to the New York Times, it's been set at 18.4 cents per gallon since 1993. This is FAR lower than any other industrialized nation. The article also points out that according to the International Energy Agency, America's overall gas taxes in August averaged just 40 cents per gallon while Britain and Germany were at $4.24 and $3.99, respectively.
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