Energy Information Administration releases 2030 international outlook; European biodiesel association revises ‘08 forecast

Two key projections were released yesterday. The new International Energy Outlook to 2030 was released by the US Energy Information Administration that showed biofuel production doubling by 2030 while CO2 emissions rise 42 percent. Also, a near-term forecast from the European Biodiesel Board said that European production will increase 17 percent in 2008 and capacity will increase 55 percent to 16 million tons.

The EIA report projects that global biofuels production will increase from 1.3 million barrels in 2008 to 2.7 million by 2030, or 2.4 percent of world liquid fuel consumption. The US is expected to produce 44 percent of global biofuels by 2030, up from 33 percent in 2006.

The EBB report is more surprising, since European administrators have taken the US to the European Commission over policies which were said to have had a catastrophic effect on European biodiesel production. The 17 percent increase in production is substantially down from previous years, but the data suggests that Europe is suffering from an overcapacity crisis.

The highlights of the EIA release are here and the basic data is in excel format here.

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