Wednesday, October 1, 2008

I'll believe when I see it

In light of our reading of Clean Tech Revolution.....thought this was interesting.

U.S. will have largest biodiesel market by 2012, research group says
Atlanta Business Chronicle

The U.S. is positioned to become the single largest biodiesel market, with 19 percent of consumption by 2012, according to a new report.

Menlo Park, Calif.-based SRI Consulting said the industry grew 50 percent from 2002 to 2007 -- the highest growth in the chemical industry -- and is poised to grow at 30 percent between 2007 and 2012.

SRI projects a slower pace of growth for the global biodiesel industry due to market uncertainties such as the ongoing fuels versus food debate, rising raw material costs, changing regulatory environment, a slowing global economy and the current financial crisis. "An important development over the last several years has been the shift in global biodiesel patterns. Only five years ago Europe was a dominant player, with 83 percent of capacity. By 2007 the European share had declined to about 46 percent as North America and Asia grew to 23 percent and 19 percent respectively," SRI said.

SRI is a business research service for the global chemical industry.