Global Biofuels Output Could Surge 70% Amid Energy Crisis

Global biofuels production is projected to surge by nearly 70% by 2030 as major producing countries raise their fuel-blending mandates in response to the energy crisis triggered by the Middle East conflict, a study co-authored by British think tank Chatham House and Forest Stewardship Council has found. Biofuels like ethanol, which typically originate from food crops or animal feed and are mixed with gasoline or diesel, become more cost-competitive as crude oil and gasoline prices spike. Several countries, including the U.S., the EU, Brazil,…