Krishnan, B. (2020, November 18). Ethanol Tries To Find Footing In Crowded Oil, Gasoline Trade. Investing. Retrieved November 18, 2020, from https://uk.investing.com/analysis/ethanol-tries-to-find-footing-in-crowded-oil-gasoline-trade-200449909
The article mainly speculates the future of biofuels and how much they will succeed in the U.S. It brings up the fact that in the past couple weeks crude oil has been increasing in demand and price, a factor that negatively affects the demand for biofuel. Despite this grim statement regarding the future of biofuels, the article speculates that under Biden, biofuels may see an increase in demand because of the president’s greener mindset. However, the article also speculates whether he will choose to support biofuels at all in contrast to other green renewable energy sources.
The article brings interesting insight into what the future of biofuel may look like. Right now most of the biofuel in the U.S. is produced from corn, and to be frank the planet may benefit if Biden chooses to side with another form of greener energy. Biofuel is capable of having a great impact in preventing global warming; however, when produced with corn it can be very harmful to the environment. This is because of the external costs associated with corn production: soil erosion, land usage, and heavy fertilizer use. Ultimately, no one can know the future of biofuels in the U.S., and while some biofuels aren’t beneficial, there is no reason to give up on greener biofuels.
Excellent informed reaction to your abstract Griffin. You are asking the right critical questions. Let’s not write off biofuel entirely, because it can be a win. But let’s start writing off corn now that we know better. Do you have a favorite biofuel yet?
Thank you! My favorite biofuel is kelp-based biofuel. It is one of the fastest growing plants, and is definitely more sustainable/renewable than other options.