Study: Europe Could Replace Half Of Gasoline With Biofuels By 2020

TheCarConnection.com
September 15th, 2010
By Bengt Halvorson

By 2020, a new report says, biofuels could replace 50 percent of EU gasoline, but that would require 100 new refineries per year. And in this scenario, it estimates, the biofuels industry could be worth about $40 billion.

The Bloomberg New Energy Finance study says that just using the waste biomass that's currently being generated, could go toward replacing 60 percent of liquid fuels.

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