Brazil says 2G ethanol can now compete with $70 oil

In Brazil, Reuters reports that the local biofuel industry is sure second-generation ethanol has overcome much of its technical challenges and is now competitive with oil at $70 per barrel. Novozymes indicated that the Raizen cellulosic ethanol plant demonstrated that these glitches had been overcome at commercial scale, producing 40 million liters per year. The fuel sells at a premium to standard ethanol produced from sugarcane juice due to its increase greenhouse gas emissions reductions but even so is still competitive with $70 oil.