Biodiesel Market Outlook
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Nowadays, petrol and diesel are still the most common fuels used in vehicles. Although the use of biodiesel in automotive engines has been long known in the history of man, the application use of biodiesel has only been taken into serious consideration just the past 5 to 10 years. |
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The increasing acceptance of biodiesel to as an alternative, renewable source to replace mineral diesel, is mostly due to environmental policies (e.g., the Kyoto Protocol and tax liberations for using biofuels in certain countries) to reduce carbon dioxide emissions, which is known as the culprit of global warming and greenhouse effects. Coupled with the depletion of fossil fuel which led to high gasoline and diesel prices, the utilisation of renewable energy, such as biodiesel, becomes increasingly pressing and important to our planet.
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Global Biobiodiesel Production | |
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Biodiesel has been commercially produced in Europe and USA since 1991 and 1998 respectively. With the increasing demand for biodiesel globally, especially in environmentally sensitive nationa, global consumption is estimated at approximately 3 billion litres every year.