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THE growth of biofuels over the next 10 years won't threaten oil production by OPEC, according to International Energy Agency statistics.
Even at maximum world biofuels production, OPEC would still need to dramatically boost production from today, the agency's executive director told the Financial Times.
The agency predicts that at worst for OPEC, biofuels would provide about 3m barrels per day by 2015, of about 94.8m barrels a day total demand. Demand for OPEC's oil would grow to 38.8m barrels a day by 2015, up from 31m barrels a day today. Earlier in the week OPEC threatened to stop investments in new production.
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YOU ARE HERE: 11 November 2007 / tribune.ie / 2007 / 06 / 10
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