|SInterest in biofuels is not new, as they provide a means
for helping to deal with national security and greenhouse gas control. And higher prices seen before the recession
were making ethanol and other biofuels in the United States and elsewhere
look more attractive.
|SPolicy changes are affecting current and future biofuel use
even more than prices. The Energy
Policy Act of 2005 and the Energy Independence and Security Act of 2007
include a growing renewable fuel standard for transportation fuels as well as
increasing efficiency requirements for cars and light-duty trucks.
|SThe increases in efficiency and ethanol use have
significant implications for the refining industry as shown on the next