Can biofuels boost economy?

Biofuels may be one of the key ways to pump immediate life into the flaccid US economy over the next few years, according to a new report from a research and advisory firm focused on the economics of biotechnology. The linkurl:report,;http://www.bio.org/news/pressreleases/newsitem.asp?id=2009_0225_02 produced by Bio Economic Research Associates and titled "U.S. Economic Impact of Advanced Biofuels Production: Perspectives to 2030," indicates that refineries specializing in next generation biofu

Bob Grant
Bob Grant

Bob Grant is Editor in Chief of The Scientist, where he started in 2007 as a Staff Writer.

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Feb 25, 2009
Biofuels may be one of the key ways to pump immediate life into the flaccid US economy over the next few years, according to a new report from a research and advisory firm focused on the economics of biotechnology. The linkurl:report,;http://www.bio.org/news/pressreleases/newsitem.asp?id=2009_0225_02 produced by Bio Economic Research Associates and titled "U.S. Economic Impact of Advanced Biofuels Production: Perspectives to 2030," indicates that refineries specializing in next generation biofuels--think fuels made from cellulosic ethanol, sorghum, sugar cane, algae other renewable seed stocks--could create nearly 200,000 new jobs by 2022. Add in jobs created in related fields, such as research and development, construction, engineering and agriculture, and we're talking 800,000 new jobs by 2022, according to the report. "These are the sectors of the economy that have been hardest hit by recent job losses over the past year," said Paul Winters, a spokesperson for the Biotechnology Industry Organization (BIO), which funded the report....

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