Liquid biofuels are renewable energy sources of biological origin. Biodiesel is a prominent liquid biofuel. Other liquid biofuels include bioethanol, biomethanol, and pyrolysis oil. All biofuels are extracted by chemical processing from agricultural stocks.
Liquid biofuel has been gaining economic and political influence in recent years. This is due to certain independent external factors. Conventional mineral oil supply is dependent upon a number of political factors. The factors were starkly pointed out by global mineral oil shortages during the Gulf War. The impetus towards biofuel research was further given a boost by agricultural product surplus in the same time-period.
Liquid biofuel is generally extracted from non-food agricultural produce. Rapeseed is the source material of choice. More than 80% of biofuel production is extracted from the rapeseed plant. Soybean is also another major source of the ecologically friendly fuel. It is the primary source for commercial biodiesel production. Sunflower is also used. The list of minor sources include linseed, palm and beef tallow.
The negative factors against liquid biofuel production is the steep expense of raw materials required. This has been partially mitigated through a series of reduced taxation practices by many governments. The economic risk from external factors has also been lessened by progressive internalization.
The highest concentration of liquid biofuel production factories are found in the European Union. The North American continent follows close behind. Approximately 90 biodiesel production plants are found to be operating in European Union territory. Besides the mainstream factories, there are 40 smaller factories producing fuel for their respective local regions. The process of production helps in creating local jobs essential for the prosperity of regional economy.
The quality of biofuel production is subject to standard international benchmarks. The German DIN E 51606 is recognized as the pinnacle of product standards in this industry. This is particularly true for fatty-acid-methyl-ester or FAME at this point of time.
The quality of liquid biofuel products have increased due to faster developments in 3 areas: introduction of newer crops, improvement of existing oilseeds, and focused development of transgenic oilseeds. Newer seeds like Synergy (hybrid rapeseed) are found to give 20% more oil than its conventional counterparts. These developments have been made possible through genetic engineering.
Liquid biofuels offer to consumers the strategic advantage of moderate oil prices. The availability of biofuel effectively helps to control sudden increase in fossil fuels. This in turn inhibits the increase in food cost.
Liquid biofuels are carbon neutral or carbon negative. Carbon neutral means that the carbon released during fuel use is balanced by new plant growth. The plants in turn are harvested to produce subsequent batches of biofuel.