Biofuels to bioproducts - a growth industry for Australia
Discussion Paper, 2018
A study from Queensland University of Technology (QUT), called ‘Biofuels to bioproducts: a growth industry for Australia’, will also be presented. It is expected to report the economic benefits of growth in the biofuels sector. Bioenergy Australia says that the report shows 2080 direct jobs and another 6570 indirect jobs could be created if there is an increase in the use of E10, which is currently permitted in Australia but not mandated.
It also says that more than A$1.1 billion (over €681 million) in additional income could result from a new biofuel policy.
The report sets out a five-point plan to acheive this kind of growth:
- Develop a national biofuels, bio-based products and bioeconomy strategy
- Implement a national biofuels mandate supporting the introduction of higher quality fuels
- Provide supporting mechanisms of education, incentives and infrastructure
- Establish policy frameworks for advanced/drop-in biofuels, biochemical and bio-based products
- Support commercial developments through industry and research collaboration.
Energy security, as well as economic benefits, comes as part of the pitch for an overarching biofuels policy.
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