ABSTRACT
Currently, the world is confronted with the twin crisis of fuel depletion and global environmental degradation, which resulted in rapid climate change. Indiscriminate extraction and lavish consumption of fossil fuels have led to the reduction of underground carbon resources. Moreover, the price of crude oil keeps on uctuating and rising on a daily basis. Meanwhile, the scenario war for oil has already been started due to subsequent environmental concerns and political events in the Middle East. Over the globe, scientists have explored several fossil fuel alternatives (biofuels) of bio-origin, which have the potential to quench the ever-increasing thrust of today’s
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population. Within few years from now, biofuels will transform from a niche energy source. In the foreseeable future, biofuel policies still require motivation by a plethora of political concerns, which can reduce dependence on fossil fuels and improve the environmental concerns. e shi from traditional fossil fuels to more exotic biofuels would constitute a very revolutionary change. In this chapter, an attempt has been made to collate the information on current biofuel scenario, technologies, economic aspects, market, and policies.
