Western European countries are taking the lead in advancing alternative fuels like ethanol as a way to cut transportation costs. The effects of rising oil prices are being felt around the world, especially in Europe where hefty taxes add to the misery.
French Prime Minister Dominique de Villepin recently moved up the target deadlines for the production of biofuels-like ethanol, derived from crops. By 2008, biofuels should make up 5.75 percent of total fuel consumption in France, and 10 percent by 2010.
In the U.S., the newly enacted Energy Bill mandates that ethanol consumption be doubled by the year 2012.
Worldwide production of ethanol will reach about 8.5 million gallons in 2005, and is expected to double by 2010.
