Journal of Fundamentals of Renewable Energy and Applications
Open Access
ISSN: 2090-4541
ISSN: 2090-4541
Yousef M Alshammari
KAUST, Saudi Arabia
Posters & Accepted Abstracts: J Fundam Renewable Energy Appl
Recent political events in 2015 including COP 21 and the fall in oil prices, have led to important effects on deciding the shape of future energy systems, while pressure increases on fossil fuels producers and the consumers to limit their greenhouse gas emissions. The sharp decrease in oil prices has led to a significant reduction in investment in renewable energy. Furthermore, the technological development in the automotive industry will certainly play a pivotal role in determining the fuel choice. From the previous studies, it suggests that biofuels could contribute up to 25% of the global transport fuel mix by 2050, provided that they reach the technical level where they can be cost-competitive with petroleum fuels. However, a large uncertainty will exist taking into consideration how technologies will develop to generate 2nd generation biofuels that will not compete with food security. This paper will analyze the role of future biofuels in the light of recent reduction of oil prices as well as rising pressure to mitigate climate change effects taking into consideration the recent technological and economic developments.