Last update: 23.12.2010
International oil companies: A new vision for biofuels
Source : istockanalyst.com
Royal Dutch Shell's new joint venture with the Brazilian sugar and biofuel goliath Cosan is indicative of a wider industry trend, with international oil companies seeing biofuels as an increasingly attractive investment alternative. Although significant barriers to the uptake of biofuels remain, the participation of these companies could symbolize a new vision for biofuels worldwide. Although ethanol consumption has been rising around the globe, at present it accounts for only 7% of the total demand for gasoline globally. However, as countries adopt rigorous policies to curb carbon emissions, and as access to high-potential oil reserves remains restrained, biofuels could represent an increasingly attractive alternative for international oil companies to diversify markets, revenues sources, and production.
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23 February 2010 |
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