BP sees ethanol increase in US
BP expects biofuels to become a larger part of the US motor fuel market, displacing 25% of petrol within the next two decades.
'Diesel use is growing in the US, following the trend set by Europe, and biodiesel is expected to provide around 8% of the fuel for diesel-powered engines by 2030,' Katrina Landis, CEO of BP's Alternative Energy, says.
‘However, during the same period, biofuels are expected to take the place of about 25% of the US petrol market,’ she said.
US production of biofuels is expected to grow more than fourfold to 2.3 million barrels per day in 2030 from less than 500,000 barrels a day in 2007, according to Landis.
BP expects biofuels to account for 11 to 19% of the world's transport-fuel market by 2030. The US congress aims to provide 10% of its electricity from renewable sources by 2012 and 25% by 2025.
'Diesel use is growing in the US, following the trend set by Europe, and biodiesel is expected to provide around 8% of the fuel for diesel-powered engines by 2030,' Katrina Landis, CEO of BP's Alternative Energy, says.
‘However, during the same period, biofuels are expected to take the place of about 25% of the US petrol market,’ she said.
US production of biofuels is expected to grow more than fourfold to 2.3 million barrels per day in 2030 from less than 500,000 barrels a day in 2007, according to Landis.
BP expects biofuels to account for 11 to 19% of the world's transport-fuel market by 2030. The US congress aims to provide 10% of its electricity from renewable sources by 2012 and 25% by 2025.
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