Malaysia's export drive for biofuels (1 viewing) (1) Guest
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TOPIC: Malaysia's export drive for biofuels
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Malaysia's export drive for biofuels 1 Year, 3 Months ago
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Palm oil plantation companies, in partnership with the Malaysian Palm Oil Board, are planning to build three 60,000-tonne plants to export biodiesel from next year
AS a net exporter of oil, the fuel crisis is not a fatal blow to the Malaysian economy. However its palm oil plantation companies, in partnership with the Malaysian Palm Oil Board, are planning to build three 60,000-tonne plants to export biodiesel from next year.
Part of the production will be absorbed locally, as the government is considering a law requiring petrol stations to sell biodiesel as of 2007. But a big chunk of the production could also be exported to Europe, the world's biggest biodiesel market, as well as to Australia and Japan. The global demand for biofuels was 2.5m tonnes in 2004 and is expanding by 25 per cent a year, with Malaysia aiming to gain a 10 per cent market share.
Many analysts, including top managers from companies as important as Exxon, believe that biofuels will remain marginal for many years to come, but the industry was taken by surprise by none other than George W Bush, who last month unexpectedly predicted that "ethanol will replace gasoline consumption".
This is an indication at least that a clean-energy revolution is not only underway but that governments are now beginning to back it up.
palm oil fruits workers
palm oil plantation
palm oil in peninsular malaysia
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