By 2050, biofuels could account for up to 27 percent of the world's total worldwide transportation fuel, according to a report published by the International Energy Agency (IEA). This, according to the IEA, would require biofuel consumption to rise to more than 750 million tons by 2050, up from 55 million tons today, but if the European Union's latest biofuel data gives us an accurate indication of what the future holds, then demand for biofuel may already be weakening.
According to the latest annual report by renewable energy group Eurobserver, the European Union's appetite for biofuel slowed in 2010, increasing by only 1.7 million tons of oil equivalent, compared to official EU consumption data for 2009. Though a 1.7-million ton spike seems like quite the jump, the EU's biofuel consumption in 2009 shot up by 2.7 million tons of oil equivalent over 2008 figures. One year's results do not make for a trend, but if the EU's demand for biofuel is already starting to dwindle, then the IEA's 750-million ton mark might be out of reach.