Energy Information Administration releases full version of 2009 Energy Report; new scenario on $200 oil envisions sharp growth in biofuels

In Washington, the Energy Information Administration, the research arm of the Department of Energy, released its full 2009 Annual Energy Report, including alternate scenarios for US energy including scenarios with oil reaching prices of $200 per barrel by 2030, compared to $130 per barrel in the reference case published last december. The $200 oil scenario would according to the EIA, drive biofuel production to 40 billion gallons by 2030 and reduce imported liquid fuels to 30 percent of overall consumption.

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