As the world’s richest countries gather at the G8 Summit and the OECD’s annual International Transport Forum the Global Renewable Fuels Alliance (GRFA) is calling on them to immediately adopt the International Energy Agency’s (IEA) Technology Roadmap which sees biofuels accounting for over a quarter of the world’s transport fuels by 2050.
“Meetings like these are crucial opportunities to address energy security issues that must not be wasted,” stated Bliss Baker, spokesperson for the GRFA. “In April the IEA provided a comprehensive roadmap for reducing our crude oil reliance which included the widespread use of biofuels and we must take advantage of this opportunity,” added Baker.
Countries throughout the world have witnessed record gasoline prices this past month. Adopting a clear strategy to diversify our fuel options, as proposed by the IEA, will alleviate our crippling reliance on crude oil. In April, two economists at leading U.S. universities found that the presence of ethanol in the U.S. market in 2010 kept gasoline prices $0.89 cents lower per gallon than they otherwise would have been. Even OPEC said in a recent forecast that “energy efficiency policies along with the use of biofuels will put downward pressure on oil consumption worldwide.”
The IEA’s Technology Roadmap: Biofuels for Transport contained several findings that will improve energy security, reduce CO2 emissions in transport and weaken our reliance on crude oil. Some of the findings included:
• Biofuels providing 27 percent of global transport fuel by 2050 • Avoiding 2.1 gigatonnes of CO2 emissions by displacing gasoline • Achieving these targets without compromising global food security
“The GRFA has long advocated that biofuels are the best way for the world to reduce its reliance on crude oil,” stated Baker. “In light of the IEA’s findings it is imperative that the G8 and OECD recognize the vital role biofuels can play in solving some of the world’s energy security problems,” concluded Baker.
The Global Renewable Fuels Alliance is a non-profit organization dedicated to promoting biofuel friendly policies internationally. Alliance members represent over 65 percent of the global biofuels production from 44 countries. Through the development of new technologies and best practices, the Alliance members are committed to producing renewable fuels with the smallest possible footprint.