Global market fuels biodiesel demand

摘要

Biodiesel plants are poppin-up all across America's heartland, fuelled by high petroleum prices; prospects of these elevated prices continuing; and introduction of federal and state subsidies and mandates. The United Soybean Board (USB) has just released an analysis of global implications of future biodiesel demand. The work was done by Promar International, which engaged the help of Dr John Kruse, of the University of Missouri-Columbia, and his model of the oilseed markets. Promar says its aim in preparing the analysis was to provide USB with a balanced view of the impact of the growing biodiesel sector. While Promar points out that many uncertainties would influence the future shape of the United States soybean sector, the price of petrodiesel and the extent to which continuing tax breaks or subsidies continue to be offered to the biodiesel sector are the two most critical factors.