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Will biofuels become China's major renewable energy resource tomorrow?
What challenge and opportunity does China face to make biofuels a sustainable and important renewable?
What strategy should China adopt as biofuels industry is booming around the globe?
The world nowadays is witnessing increasingly volatile market demand for oil due to the over-dependence on petroleum and accelerating depletion of natural reserves. Energy problem, and particularly oil, becomes one of greatest problems for China as it becomes the world's second largest consumer of primary energy behind the United States. Domestic and international energy experts project that China's oil demand is expected to continue to increase by five to seven percent a year in the next twenty years. If China continues to rely on traditional oil, she will surpass the United States as the world's largest consumer of oil by 2025
Chinese government and entrepreneurs are taking great efforts to address the rapidly growing demand for natural energy and resources. In a move to cut domestic reliance on coal and oil, the Chinese State Council passed a historic law in the February pledging to develop renewable energy resources for 10 percent of China's total energy consumption by 2020. The new law promulgates details on the purchase and use of renewable energy resources, primarily biofuels
In effect, China's efforts to develop renewable energy began with the introduction of biofuels. Ethanol-related demand, however, has undesired price impact on agricultural commodities like corns. To avoid this, Chinese government rules out the expansion of grain-based ethanol as main material for biofuels. The development of non-grain biofuels, i.e., biodiesel or bioethanol, becomes the primary policy mandate for Chinese government. Chen Deming, vice chairman of the National Development and Reform Commission (NDRC) indicates that "by 2020, China aims to use 10 million tons of bioethanol and 2 million tons of biodiesel each year, replacing 10 million tons of petroleum-based fuel."
The growing demand, policy encouragement and continual investment mean renewable energy such as biofuels is becoming big business opportunities. Chinese government and major energy firms have already realized the importance to developed Biofuels industry and related infrastructures. The innovative development of biofuels depends on joint efforts of scientific research, industry progress and government support. More specifically, the new technology of non-grain Biofuels imposes challenges such as feedstock, technology advance, transportation and price fluctuation. To overcome these challenges is critical to assure the sustainable and healthy development of biofuels industry for a cleaner future in China
Guided by the philosophy, "Technology Boosts Economy and Cooperation Creates Future", APEC-METC with CFEC is proud to present the elite gathering APEC Biofuels Summit 2008. we are honored to invite you to embark upon this journey to explore China' renewable and sustainable energy resources. We are committed to establishing a platform to show the best solution and experience achieved in biofuels industry for you.
Based on this commitment, CFEC is proud to present APEC Biofuels Summit 2008 in Haitian Hotel Qingdao China June 1th-3th.
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