ANSI: Transatlantic Economic Council Reports Progress of Pure Biofuels
December 20, 2007 // Published as a news service by IHS
The TEC chairs, Guenter Verheugen and Allan Hubbard, were optimistic that the strategic discussions would help boost transatlantic trade significantly. Experts said the annual EU-U.S. trade totals $909.3 billion and accounts for 40% of all world trade.
In the area of pure biofuels - pure bioethanol and biodiesel - Verheugen and Hubbard confirmed that preliminary agreements have been reached, in conjunction with counterparts in Brazil, on the compatibility of certain existing regulatory standards.
Additional areas have been identified in which further progress, such as compatibility, can be made in 2008. Recommendations from the experts are expected before the end of 2007.
Produced from organic matter such as wood by-products and agricultural crops, biofuels are renewable energy products that can be converted into gas for use as fuel. Experts said large-scale commoditization of biofuels could diversify the energy infrastructure, improve energy security and bring about a host of economic, social and environmental benefits.
Source: American National Standards Institute (ANSI).