Buyer's Brief – Biofuels: Are They Really Sustainable?
While biofuels are often cited as an environmentally-secure alternative to petroleum, the negatives could outweigh the positives. Nick Peksa reports. This article first appeared in ESM Issue 3 2021.
The global economy has been hit hard by the pandemic. That said, the gloom is lifting and there is an expectation for a strong global recovery, as national vaccination programmes take hold and industry and commerce dusts itself off.
One thing is for certain, however – the pandemic has forced rapid changes in behaviour: from new working-from-home models to cuts in business and leisure air travel. These changes have encouraged an increasing number of governments to accelerate their nations' low-carbon targets.
The crude oil market, fuelled by the industry restart, has started to brush itself off after its dramatic collapse. With the current drive for biofuels, however, the petroleum sector may have to wait a further six years for a complete recovery.
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