Today in Biofuels Opinion: “Our benchmark for success is $1 a gallon – or $40-50 a barrel on a straight volume basis.”

The Global Renewable Fuels Alliance: “The GRFA is calling on all governments to adopt biofuels friendly policies in the transport sector, and wherever appropriate, binding targets…to take into account the increasing efficiency of global biofuels production in developing policies as opposed to relying on out-of-date data and outdated arguments…to increase investment in the agricultural sector of developing nations and to support expanded biofuels production in these regions…the accelerated commercialization of first and second-generation biofuels technologies by adopting aggressive R&D tax policies.”

Philip New, CEO, BP Biofuels: “Our benchmark for success is $1 a gallon – or $40-50 a barrel on a straight volume basis. In our view if you can’t reach that level then it’s won’t be worth competing.  Using a number of sources, we’ve created one possible cost curve for the fuels market for 2020.  In this projection, OPEC countries still provide the most economical feedstock, followed by crudes from the FSU and elsewhere, but Brazilian sugarcane ethanol competes very well as part of the mix… A little further up the scale comes ligno-cellulosic ethanol….In this projection we see around 6 million barrels per day of biofuels in the pool – which is a five fold increase on today.” (Complete text is here)

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