Report sees biofuels for road transport growing to $227.8 billion by 2022

In Colorado, over the next 8 years, biofuels are expected to become an important part of the fuel mix for road transportation, accounting for 7.5 percent of liquid fuels consumed in the sector by 2022. Many governments, corporations, and individuals see biofuels as a promising solution to solving the energy security, environmental, and economic challenges associated with petroleum dependency. According to a recent report from Navigant Research, worldwide revenue from biofuels for road transportation will grow from $166.5 billion annually in 2014 to $337.8 billion by 2022.