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REPORT: BIOFUELS POISED TO DISPLACE OILBiofuels such as ethanol and biodiesel cansignificantly reduce global dependence on oil, accordingto a new report by the Worldwatch Institute.Last year, world biofuel production surpassed 670,000barrels per day, the equivalent of about 1 percent of theglobal transport fuel market. Although oil still accounts formore than 96 percent of transport fuel use, biofuelproduction has doubled since 2001 and is poised for evenstronger growth as the industry responds to higher fuelprices and supportive government policies. Coordinatedaction to expand biofuel markets and advance newtechnologies could relieve pressure on oil prices whilestrengthening agricultural economies and reducing climatealteringemissions, says Worldwatch Institute PresidentChristopher Flavin.Brazil is the world's biofuel leader, with half of itssugar cane crop providing more than 40 percent of its

Some of the benefits of the increase in biofuel production listed by the author are: