Friday, June 29, 2007

Biodiesel to Become Cheaper Than Light Oil in 4 Years

The price of biodiesel, an alternative energy source to light oil, will become lower than light oil as early as 2011, securing its economic feasibility, according to a recent report by the Korea Energy Economics Institute (KEEI).

Another report published by the KEEI titled ‘The Economic Feasibility of Adopting Bioethanol for Transportation’ revealed that bioethanol, an alternative energy source to gasoline, will not become economically feasible if the international oil price stays under 50 dollars.

From Dong-A