IT NEEDS $70
Advanced biofuel made from agricultural waste — the so called Holy Grail of the alternative energy industry — will not be competitive with conventional fuel until the oil is back to $70-$80 per barrel, DuPont has said.
This prediction from the US chemicals group, which last week formally opened the world's largest cellulosic ethanol plant, underscores the challenge facing makers of "second-generation" biofuels. After a decade pursuing an elusive production process, companies are finding their business models threatened by the changing economics of the industry — as well as the politics of the US.
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