Japan Announces Public-Private Initiative To Cut Biofuel Price to 40 Cents Per Liter

摘要

Japan March 26 announced a public-private biofuel development initiative to lower the price of bioethanol to about 40 cents per liter ($1.51 per gallon) by 2015 and to produce 100,000 to 200,000 kiloliters (26.4-52.8 million gallons) of the plant-based ethanol each year. The announcement by the Biofuel Technology Innovation Council-made up of representatives from the Ministry of Economy, Trade and Industry, automakers, oil refiners, food makers, and others-said that it would require a land area twice the size of Tokyo to producing a sufficient amount of rice stalks and other plants that yield bioethanol to achieve the bioethanol target.