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Biofuels are derived from renewable resources such as plant or animal materials. Biofuels constituted to 1.8% of the world's transport fuel in 2008. Investment into Biofuels production exceeded $4 billion worldwide in 2007 and is growing. Petrol, oil and coal are not Biofuels as they are fossilized and hence they are not sustainable. Biofuels on the other hand are renewable energy sources as they can have a continuous growth / burn / growth / burn cycle. Biofuels such as ethanol and biodiesel have the potential to significantly reduce global dependence on petroleum oil. Coordinated action to expand Biofuel markets and advancement of new technologies could relieve pressure on oil prices while strengthening agricultural economies and reducing emissions of gas responsible for global warming. The two major Biofuels that are already available and are being used on a large scale are biodiesel and bioethanol . These fuels are capable of running many different makes and models of existing motor vehicles. |
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