Biofuels—Breaking the Myth of ‘Indestructible Energy’?

V. Shunmugam
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V. Shunmugam: Shunmugam is Chief Economist at Multi-Commodity Exchange of India Limited, Mumbai; e-mail: v.shunmugam@mcxindia.com

Margin: The Journal of Applied Economic Research, 2009, vol. 3, issue 2, 173-189

Abstract: With the pervasive use of oil-based energy in the global economy, even the slightest movement in the price of crude oil reverberates across all economies and businesses. This paper attempts to gauge the importance of the thrust on renewable energy against the backdrop of the perils of untamed energy (mainly fossil fuel) use. It looks at the strengths and weaknesses of various sources of renewable energy, with an emphasis on biofuels. Given their renewable nature and environmental friendliness, do biofuels have the potential to become the energy of the future or will it remain another form of energy? The paper concludes that socio-political repercussions from the widespread use of biofuels would warrant that the sector be driven by sound policy initiatives.

Keywords: Renewable Energy; Alternative Energy; Energy Security; Biofuels; Bioenergy; Butanol; Biomass; JEL Classification: Q42; JEL Classification: Q43; JEL Classification: Q58 (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:mareco:v:3:y:2009:i:2:p:173-189

DOI: 10.1177/097380100900300204

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