The potential for the biofuel industry is enormous. Currently, biofuels provide less net energy in comparison to coal. Ethanol provides 60% of energy compared to coal while biodiesel provides 86% (Bourne, 41), yet the abundance of biomass in the planet suggests that biofuels could meet consumers’ needs if managed appropriately.
Innovations and decrease in cost competitiveness in comparison to current fossil fuels may allow the broad implementation of biofuels as alternative fuels in the transportation sector as well as in the power sector (electricity/gas).
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