IEA’s new World Energy Outlook 2015 sees only 5% biofuel use in transport in 2040

In France, the International Energy Agency’s new World Energy Outlook 2015 estimates biofuels will only account for about 5% transport fuel consumption in 2040 under its New Policies Scenario, which expects that blending mandates will more or less still exist by then. Despite remaining a minor part of the energy mix, the total volume is three times more than consumed now, at an estimated 4 million barrels of oil equivalent per day, up from 1.5 million boe currently. It expects the mix to be 70% ethanol and the remaining biodiesel. To achieve that demand, the IEA expects investments to average about $15 billion annually.

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