subject: Next Generation Biofuels With Including Its Market Drivers And Growth Opportunities [print this page] Next Generation Biofuels: Market drivers, growth opportunities and regulatory change
Over 80% of the worlds primary energy supply is currently derived from coal, gas and oil (collectively known as fossil fuels), which are used to generate electricity, power, energy and heat for industrial, commercial, domestic and transportation purposes. ( http://www.bharatbook.com/detail.asp?id=130191&rt=Next-Generation-Biofuels-Market-drivers-growth-opportunities-and-regulatory-change.html )
The worlds dependence on crude oil for transportation is particularly marked, with the International Energy Agency (IEA) estimating that fuels from crude oil currently supply about 96% of the worldwide energy demand for transport purposes. As the worlds population grows and developing countries look to expand their economies, this insatiable demand for fossil fuels is unlikely to show any sign of easing, with oil and gas accounting for 60% of the worlds increasing energy demand between now and 2030.
Furthermore, with most significant reserves of fossil fuels unevenly distributed throughout the world, energy security is set to become an increasingly critical economic and political issue over the coming decades. Real or perceived disruptions to the global supply of fossil fuels notably crude oil are likely to grow in frequency and cause wild fluctuations in the price of energy, as they have done so in the past. However, one of the most pressing reasons for seeking alternative sources of energy and fuel lies in the form of climate change. The combustion of fossil fuels releases carbon dioxide (CO2), a potent greenhouse gas (GHG), which are considered to be responsible for global warming. According to the IEA, if no changes are made to the worlds existing energy economy, related emissions of CO2 will grow marginally faster than energy use, meaning that by 2030 global CO2 emissions will be more than 50% higher than today.
Over two-thirds of that projected increase in emissions is expected to come from emerging economies, such as India, China both of which are set to rely heavily on coal-based power stations to drive their rapidly developing economies. The combination of biomass and biofuels accounted for around 26% of the worlds total renewable energy production in 2008. Second generation biofuels have been developed due to limitations of first generation biofuels, primarily that the resources used threatens food supplies. Second generation biofuels production processes include use a variety of non-food crops such as waste biomass, the stalks of wheat, corn, wood and miscanthus. Second generation biofuels use biomass to liquid technology, such as cellulosic biofuels from non-food crops. Third generation biofuel primarily references fuel derived from algae.
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