Biofuels contributed $277B to global enconomy: new report

In Canada, the Global Renewable Fuels Alliance and Cardno Entrix reported that the biofuels industry contributed $277.3 billion to the global economy in 2010. The figures headlined a new report, “Contribution of Biofuels to the Global Economy”, released yesterday by the groups.

According to the report, global biofuel production produced 110 billion litres in 2010 and supported nearly 1.4 million jobs in all sectors of the global economy. The amount of ethanol produced globally has doubled since 2005 and increased three-fold in the last decade. By 2020 the global biofuel industry is forecasted to grow to produce over 196 billion litres and support over 2.2 million jobs in all sectors of the global economy.

The report can be downloaded here.