We want biofuels!
It has been said in The Economist that biofuels are radically affecting the electricity market. Currently we are worried about prices, basically food prices, transport and utilitiy bills. However, are they truly going to have an effect on our standard of living?
If anybody has been watching prices changes in the petroleum market during the last 5 years, they could say 'we have nothing to worry about'. Anyway, it’s been reported that the maximum level of petroleum extraction will be attained next year and then it is going to come down by 2-3 per cent each year.
Compared to petrol, the production of biofuels is more economical. Moreover, the fact is that Brazil is the leading producer of biofuels in the world and apparently, we have an opportunity to do the same using canola oil. If this is the case, why can we still not produce biofuels in our country if we just need some seeds, methylated spirit and a catalyst to produce this economical and environmentally friendly fuel?
Who is holding back the changes?
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