With increasing oil prices, and debates on how to reduce carbon emissions, many are looking forward to biofuel as a renewable and clean source of energy. But the U.S. is lagging behind in its goals for more greener biofuel. U.S scientists have not yet agreed on the best and the finest technologies to utilize the natural resources to produce energy efficient fuels. Moreover, the distribution network for handling the fuel has not been made.
The increased use of renewable fuel is playing an important role in meeting the country’s new energy goals. But for the investors, it is still a big gamble, even with a potential massive payoff. The government says “the federal standard of 36 billion gallons is reachable but agrees it is up to federal officials to assure investors that the country’s financial commitment is strong and lasting.”
A national goal of converting the natural resources into 16 billion gallons of cellulosic biofuel annually by 2022, may be the biggest green gamble the country has ever taken.
Source: MSNBC