Biofuels on the Rise: Navigating Growth, Challenges, and Policy Shifts in Renewable Energy

The Bank of America report "Biofuels: Turning Food into Fuel" explores the rapid growth of biofuels, which have tripled in size over the past 15 years, now accounting for 3% of the global petroleum supply. It highlights the U.S. trend favoring renewable diesel due to subsidies, while demand for ethanol and biodiesel is stagnating amid rising electric vehicle adoption. The report discusses challenges in feedstock sourcing and emerging technologies, noting that sustainable aviation fuel is gaining traction through policy incentives like the Inflation Reduction Act despite higher production costs. Access the full report.