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U.S. Energy Policy: Ethanol to pacify the Unquenchable Energy Thirst
Nov 04, 2006
The energy market has been pretty volatile with escalating oil prices and sinking gas prices. This July, the US Commerce Department reported that the country’s oil import bill has ascended to nearly 5% and the daily oil consumption stands at a whopping one billion dollars.
Consumers may be relishing the present downturn in the gasoline prices in the US markets but that should not imply that domestic energy policies overlook renewable energy.
Tom Slunecka, the executive director of EPIC (Ethanol Promotion and Information Council) says “Ethanol is going to play a key role in America’s energy future”. He further added that the availability of ethanol to consumers is expanding with benefits to both the economy as well as the environment.
President Bush in an address outlined the ambitious goal of replacing as high as 75% of the oil imports from the Middle East by 2025. Middle East supplies nearly 17% of the total U.S oil imports. US Ethanol production has grown by nearly 50% within the period since July 2006.
RNCOS’ recent report “Biofuel Market Worldwide (2006)”, talks about the emerging market prospects of ethanol. Since ethanol is used as oxygenate for conventional gasoline, the rise in gasoline consumption is in turn going to drive ethanol demand.
US Ethanol market is predicted to grow almost at the rate of 18.5% and by the year 2010 the market demand will stand at around 9.5 Billion Gallons.
The research report also addresses the issues and facts that are critical to business success, such as:
- The Key market trends in Biofuel industry.
- The existing cost analysis of Biofuel.
- The regional market variations with respect to government policies.
- The expected face of the Biofuel market within the next four years.
- The driving factors for the Worldwide Biofuel market.
- The other economic factors affecting the prospects of the Biofuel Market.
- The various government support programs and Major Biofuel projects.
The report “Biofuel Market Worldwide (2006)” provides an updated and detailed overview of the world Biofuel market. It examines the emerging trends and provides exclusive forecasts, region wise snapshots of different product categories across the world.
To purchase your copy: http://www.rncos.com/Report/IM043.htm
To purchase your copy: http://www.rncos.com/Report/IM043.htm
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