by Phil Ciciora, Business & Law Editor
CHAMPAIGN, Ill. – A new study from the University of Illinois concludes that very high biomass prices would be needed in order to meet the ambitious goal of replacing 30 percent of petroleum consumption in the U.S. with biofuels by 2030.
A team of researchers led by Madhu Khanna, a professor of agricultural and consumer economics at Illinois, shows that between 600 and 900 million metric tons of biomass could be produced in 2030 at a price of $140 per metric ton (in 2007 dollars) while still meeting demand for food with current assumptions about yields, production costs and land availability.
Read the entire article from the University of Illinois News Bureau