Biofuels as Economic Security for the Poor

Abstract

AbstractThe renewable biofuels invention has caught substantial attention worldwide over the last decades. Edible and non-edible sources of biofuels have witnessed major changes in the approaches in the form of three generations. The first-generation biofuels, refer to liquid fuels derives from starchy food crops and vegetable oils, and these are the renewable energy sources. The second-generation biofuels are liquid and gaseous fuels from non-food crops such as lignocellulosic biomass. Biofuels comprised of algae; and other photosynthesizing microorganisms are named as the third-generation biofuels. Biofuels production is crucial in improving environmental, economic and social sustainability. Recently, in developed and developing countries, biofuels utilization has increased significantly as it ensures economic security through poverty reduction. The major biofuel producing countries in Asia are China, Indonesia, India, Thailand and Malaysia. In these countries and in poorer nations, the biofuel expansion is an additional income source and employment generating opportunity. Therefore establishement of biofuels production industry has the potential to reduce poverty and increase rural welfare by injecting new economic activity. For example, a bioethanol industry in Mozambique is estimated to create around 56000 jobs directly through feedstock and processing activities by 2025. Moreover, innovations in biofuel industries are having a direct benefit to farming community especially women who are involved in biomass production activities. At present, biofuels development creates gender empowerment, improves land rental values, increase income, minimizes oil price, lowers transportation costs and reduces electricity cost. However, the biofuel production is a contentious issue and demands investment in research and development for achieving the economic security for the poor. In view of its projected opportunities for sustainable energy production coupled to accelaration of economic security and reduction of poverty, we have focussed on a detailed narration on this globally relevant topic.KeywordsBiofuelsBiofuels generationPoverty reductionEconomic securityGlobal biofuel development