ABSTRACT

Fossil fuels supply an estimated 80% of the primary energy consumed globally, of which 58% is utilized in the transportation sector as liquid fuel (Escobar et al. 2007). According to current predictions, worldwide demand for oil will be around 110-120 million barrels per day during the period from 2030 to 2040 (CERA Report 2009; AEO 2013). Worldwide, for every four barrels of oil that are consumed, only one new barrel of oil is found (Aleklett and Campbell 2003). It is also envisioned that, with all the current reserves and new oil discoveries along with tar sand reserves, there still will be a large gap in demand and supply, which could be tens of millions of barrels per day. Liquid drop-in biofuels are renewable sources of transportation fuel that could become critical in order to bridge this gap around the world and at the same time reduce U.S. dependence on foreign oil. Conversion of biomass and its utilization as a renewable source of energy is essential for transformation toward a more sustainable planet (Tran et al. 2010). Besides, renewable energy is viewed as one of the principal ways of reducing GHG emissions and of creating a sustainable,

CONTENTS

15.1 Introduction .......................................................................................................................... 301 15.2 Goals, Achievements, and Bottlenecks ................................................................................303 15.3 Case Study of Bioreneries ..................................................................................................304