Biofuels
Bioethanol can also be used as an additive in diesel engines
to enhance combustion and reduce some emissions – in spite of differences in auto-ignitability as compared to diesel fuels. It is useful to compare the properties of ethanol to regular gasoline and diesel fuels. Bioethanol generally has a higher auto-ignitability than gasoline, which is measured by octane number. It has a greater octane number (ON) than regular gasoline surrogates and incomparably higher ON than diesel fuels. In addition, bioethanol has lower viscosity, wider flammability limit and lower flash point than those of both gasoline and diesel.
Financing & Climate Change Calls for global carbon regulations are growing. COP-15 in Copenhagen last December was expected to achieve a far- reaching, global agreement to replace the Kyoto Protocol. This did not happen. The debate on climate change is likely to produce regulations world-wide that will encourage and/ or subsidise biofuels investments. To help overcome the risk of oil price volatility undermining investment in biofuels, regulators will need to enact particular policies to encourage investment in biofuels. Ultimately, costs are the main drivers for economic activity which increasingly includes corporate and social responsibility (CSR), and sustainability criteria. In a cost and CSR-driven economy, the role for voluntary higher standards will remain clearly mitigated. Attracting substantial finance
and investment is a prerequisite for scaling-up the development of biofuels internationally. The challenge is to introduce the right policy frameworks and financial tools to enable biofuels to achieve their market potential. Capital flows to the market environment which demonstrates strength, clarity and stability. That environment must be specific enough to improve the bankability of projects and provide conditions for steady market growth.
Standards Although major refiners like ConocoPhillips, BP and others
currently blend biofuels into transportation fuels like gasoline and diesel, this is not supported by sufficient technical standardisation which would allow and facilitate robust growth of biofuels on a global scale. Establishing biofuel technical standards would, over the long-run, help reduce capital expenditures for large and small refiners, benefit new participants in the refining business, and help capital markets develop more specialist products for syndicating debt for biofuel refining. The many barriers that today constrain world trade in biofuels can be removed by introducing international
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specifications and standards. Not only must properties of final biofuel products be harmonised, but also methodologies for measuring these properties. International bodies such as the International Standards Organisation (ISO) are the appropriate forum to discuss this subject with participation of all stakeholders.
Conclusions The development of biofuels on a global scale makes a lot
of sense. So what then can, and should, be done about the diversity of source types available for biofuels and the diversity of geographical assets (e.g. Brazilian sugar cane, American corn, India’s cassava, Africa’s sorghum, Europe’s wheat, etc.)? How will Brazil’s sugar cane be used in the US; or how will African sorghum be used in Europe; or how will American corn be used in Asia? Biofuel policies should focus on market development
and facilitate sustainable international biofuel trade. The geographical disparity in production potential and demand for biofuels will necessitate the reduction in barriers to biofuel trade. Free movement of biofuels around the world should be coupled with social and environmental standards and a credible system to certify compliance. More sustainable feedstock
Biofuel policies should focus on market development and facilitate sustainable international biofuel trade
and technologies are needed, including those that provide enhanced net reductions in GHG emissions and in fossil inputs. While it is recognised
that biofuels have the capacity to reduce GHG emissions, their production and use are not entirely without environmental implications. Depending on the crop type, the carbon balance may not always be lower in comparison. To achieve their full potential to provide security,
environmental and social benefits, biofuels need to represent an increasing share of total transport fuel relative to oil. Governments should pursue efforts that lead to diversification of transport fuel sources to meet this goal. Governments and industry need to invest further in research and development to stimulate breakthrough technologies and share best practices and technologies for biofuels production and use. Governments should also pursue policies to encourage private
sector investment into commercial scale production of biofuels for proven technologies, including incentives for scaling-up technology from pilot to demonstration and commercial scale operations. ■
Elena Virkkala Nekhaev is Director of Programmes at the World Energy Council.
www.worldenergy.org
worldPower 2010
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