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October 16, 2007 | Jim Lane | Comments 0

ABC Exec Director calls 2007 “the turning point” for biofuels

Sean O’Hanlon, Executive Director of the American Biofuels Council, spoke about the state of the biofuels industry and future trends at the Federal Home Loan Bank of Des Moines annual Midwest conference on Friday.

He said that while ethanol from corn and biodiesel from soybeans have been a good start in shedding our dependence on foreign oil we need to start to diversify the crops from which biofuels are produced. “If we truly want to become energy independent we need to look at all the possibilities. Not just focus on one or two.”

“I think the outlook for biofuels production is very good. As the price of oil continues to rise the demand for biofuels and other renewable energies will increase greatly. We will start to see butanol and increased hydrogen production in the next few years as well. This will be a win-win situation all the way around. It will be good for the environment, the economy, and good for geopolitical policy.”

O’Hanlon said that biofuels hold great promise for America and added that biofuels would also play a big role in economic development throughout Latin America and the Caribbean basin.

He called 2007 “the turning point” and he stated that a sensible national Renewable Fuels Standard would be wise during this transition period.

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