March 23, 2007

The Ethanol Pact
The United States and Brazil, who account for more than 70 percent of global ethanol production, were able to finalize their "ethanol pact" yesterday in hope to increase energy security. The agreement entails:
- Cooperation in research and development of "next-generation" biofuel technologies such as cellulosic ethanol.
- Cooperation in stimulating the expansion of biofuels in third world countries. The strategy will begin with Central America and the Caribeean
- Creating an OPEC-like global biofuels market by incorporating technical rules and regulations. The US and Brazil will propose this in the International Biofuel Forum, in which India, China, South Africa and the European Union will be present.