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Biofuels—Breaking the Myth of ‘Indestructible Energy’?

Author

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  • V. Shunmugam

    (Shunmugam is Chief Economist at Multi-Commodity Exchange of India Limited, Mumbai; e-mail: v.shunmugam@mcxindia.com)

Abstract

With the pervasive use of oil-based energy in the global economy, even the slightest movement in the price of crude oil reverberates across all economies and businesses. This paper attempts to gauge the importance of the thrust on renewable energy against the backdrop of the perils of untamed energy (mainly fossil fuel) use. It looks at the strengths and weaknesses of various sources of renewable energy, with an emphasis on biofuels. Given their renewable nature and environmental friendliness, do biofuels have the potential to become the energy of the future or will it remain another form of energy? The paper concludes that socio-political repercussions from the widespread use of biofuels would warrant that the sector be driven by sound policy initiatives.

Suggested Citation

  • V. Shunmugam, 2009. "Biofuels—Breaking the Myth of ‘Indestructible Energy’?," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 3(2), pages 173-189, April.
    • Handle: RePEc:sae:mareco:v:3:y:2009:i:2:p:173-189
    DOI: 10.1177/097380100900300204
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    Cited by:

    1. Milano, Jassinnee & Ong, Hwai Chyuan & Masjuki, H.H. & Chong, W.T. & Lam, Man Kee & Loh, Ping Kwan & Vellayan, Viknes, 2016. "Microalgae biofuels as an alternative to fossil fuel for power generation," Renewable and Sustainable Energy Reviews, Elsevier, vol. 58(C), pages 180-197.

    More about this item

    Keywords

    Renewable Energy; Alternative Energy; Energy Security; Biofuels; Bioenergy; Butanol; Biomass; JEL Classification: Q42; JEL Classification: Q43; JEL Classification: Q58;
    All these keywords.

    JEL classification:

    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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