On the future prospects and limits of biofuels in Brazil, the US and EU

The major final conclusions are: (i) To reveal the real future market value of biofuels, a CO2 based tax system should be implemented for all types of fuels providing a neutral environmental incentive for competition between all types of fossil and renewable fuels; (ii) Moreover, the research and development for all types of biofuels, but especially for second generation biofuels, has to be intensified.