Finshots Daily Do we need a Global Biofuel Alliance?
Sep 18, 2023
Exploring India's ambitions for biofuel, their success in saving money and becoming self-reliant, and the benefits of using biofuels to reduce oil imports. Discussion on India's targets for biofuel production, including blending biodiesel and increasing ethanol production, to reduce pollution and carbon emissions. The need for a Global Biofuel Alliance to support India's goals and gain international funds and expertise.
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Biofuels Reduce Oil Dependency
- Biofuels such as ethanol and biodiesel are derived from plant-based substances and animal fats.
- India is pushing biofuels to reduce oil imports and enhance energy self-reliance.
Biofuels Cut Pollution
- Ethanol and biodiesel blends reduce vehicle pollution in India.
- Vehicle emissions account for about 40% of India's pollution.
Global Biofuel Alliance Purpose
- India formed the Global Biofuel Alliance with 22 countries including the US and Brazil.
- The alliance aims to boost biofuel production capacity, knowledge exchange, and access international funds.