The Department of Energy (DOE) said the local alternative-fuels sector would further grow amid claims that biofuel projects around the world have been placed on the back burner due to the dropping world oil prices.
Mario Marasigan, DOE director for energy utilization and management, said the department remains upbeat about the emerging biofuels sector. He said the DOE’s bullishness is due to the existence of the Biofuels Act of 2006.
Marasigan made this clarification in view of Platts, a world provider of energy and commodities information, which issued a statement that some biofuels projects around the globe have been shelved for the meantime because oil prices have been on the downtrend.
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