The U.S. must produce 16 billion gallons of cellulosic biofuels by 2022, as mandated by Congress, but it’s not clear whether or not the industry is on pace to achieve the goal.
The nation would need more than 200 large-scale facilities, producing 100 million gallons a year, to fulfill the mandate. None exist today.
Cellulosic biofuels need to play a big role in reducing that nation’s dependence on oil, reducing greenhouse gas emissions and alleviating the pressure on food crops, such as corn and soy beans, which are currently being used as feedstocks for biofuels.
However, the industry will have to make some miraculous leaps over the next 14 years to reach the mandate. Furthermore, if the price of oil does not go back up, keeping cellulosic ethanol production price competitive, acquiring funding for those 200+ refineries will be even more difficult.
Read the full Associated Press story at Forbes.com.
Loading...