Look at the plateau! Is this a trend, or temporary? By industry and policy predictions, it is temporary, but time will tell.
FROM BP’s REPORT:
● World biofuels production declined by 0.4% (-0.1 mtoe) in 2012, the first decline since 2000. This resulted from a decline in the US of 4.3% (-1.2 mtoe).
● Increased output in South America and Asia Pacific was outweighed by declines in North America and Europe.
● Global ethanol output declined by 1.7%, the second straight annual decline.
● Biodiesel production grew by 2.7% and has doubled in the last five years and now makes up 31% of total biofuel supply.
Source: BP Statistical Review of World Energy 2013. According to BP, the above data is from F.O. Lichts and US Energy Information Administration.