Another battering looms as electric cars are soon to be forced on many car buyers by legislation. Maybe agriculture will get some of its lost land back for food production.
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Hit by the coronavirus pandemic and a sharp drop in oil prices, biofuel demand has declined for the first time in two decades and may struggle to recover, according to experts.
“The collapse of oil prices has had a very negative impact on biofuels,” rendering them uncompetitive, Olivier Lemesle, director of studies at Xerfi, told AFP (via TechXplore.)
The production of biofuels for transport in 2020 is expected to decline 11.6 percent on 2019 levels, the first fall in 20 years, according to the International Energy Agency’s (IEA) annual report, published in early November.
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