Biofuels will account for up to 25% of energy use by 2050, experts say
Industry experts are predicting that biofuels will account for 15% to 25% of the world's energy consumption by 2050, according to Mark McHugh, president and CEO of consulting firm CenAm Energy Partners. Although advanced biofuels are not yet competitive with first-generation biofuels, the renewable fuel standard and other incentives are key to the industry's growth. "Supply is constrained, but there is a substantial demand," he added.
Source: The Energy Report, April 12, 2012