Is There A Future In Biodiesel?
The most significant element enhancing the competitiveness of alternative fuels, including biofuels, is the increase in oil prices. The unusual six-year surge in oil prices has expanded the supply of conventional and alternative energy sources while also extending the window for efficiency improvements and encouraging energy conservation. High oil prices have previously only lasted a little time. Prices tended to rise quickly, often as a result of armed conflict, peak in a matter of weeks or months, and then drop quickly. Following these price surges, the quick drop in oil prices made it harder to maintain alternative fuel initiatives and lessened customer incentives to limit their consumption of petroleum-based goods. Previous instances of high oil prices have only been temporary. Prices typically began to increase swiftly, frequently as a result of armed conflict, reached their peak in a matter of weeks or months, and then began to fall quickly. Following these price spikes, the sw