Seven years ago, a biofuels revolution was born in Europe from ambitious environmental, energy security and national security policies. Starting with the EU's Biofuels for Transport initiative in 2002, these revolutionary biofuels policies took root in the U.S. in 2005 with the birth of the Renewable Fuel Standard (RFS) under the Energy Policy Act. Not long thereafter, several countries, including India and China, followed suit and enacted policies aimed at reducing pollution and dependence on foreignrnoil and producing renewable sources of transport fuels. Each of these emerging market nations has targets to replace from 5% to 20% of total transport consumption with ethanol or biodiesel.rnAround the world, these biofuels initiatives have received government support in the form of mandates, subsidies, tax incentives and large R&D initiatives. In the U.S. these initiatives and tax benefits have helped to accelerate the growth of the biofuels industry, with over 150 new ethanol plants and more than 185 biodiesel enterprises through 2007 (see figure 1).
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