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Global Energy Supply/Demand to 2030
Million tonnes of oil equivalent (Mtoe) per year
10000
12000 Non-OECD
6000
8000
OECD
4000
6000
0
2000
© 2011 Chevron Technology Ventures
1990 1995 2000 2005 2010 2015 2020 2025 2030
Source: IEA, 2010 World Energy Outlook 2
Where Will Supply Come From?
2008 2030200812,271 Mtoe
203016,941 Mtoe
Biomass & Waste 10%
2% Other Renewables1% Other RenewablesBiomass &
Waste 10%
Coal29%
Hydro 2%
Nuclear 6%Coal27%
Waste 10%Hydro 2%
Nuclear 6%
Oil
Gas22%Oil
33%
Gas21%
Oil28%
33%
© 2011 Chevron Technology Ventures IEA World Energy Outlook 2010 - Reference Case 3
What are Biofuels?
Any fuel that is obtained from recently living organisms
Ethanol
Biodiesel
Renewable Diesel
Biohydrocarbons
© 2011 Chevron Technology Ventures 4
Political and Economic Factors Driving Growth
Global Oil –Use and DemandUse and Demand
Influence National Policies
Local EconomicDevelopment Growth of
Bi f l S tBiofuels Sector
Energy Security
Cli t Ch
© 2011 Chevron Technology Ventures
Climate Change
5
U.S. Federal Biofuels Mandates
40.00
60% GHG 50% GHG 50% GHG 20% GHG
30.00
35.00 Cellulosic Biofuel
Advanced Biofuel:Sugar Ethanol
Co processed Renewable Diesel
60% GHG 50% GHG 50% GHG 20% GHG
20.00
25.00
f Gallons per Year
Biomass -based Diesel:Biodiesel - ester
Standalone Renewable Diesel
Co-processed Renewable Diesel
10.00
15.00Billion
s of
0.00
5.00 Renewable Fuel:Conventional Corn -starch Ethanol
© 2011 Chevron Technology Ventures
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Progressing to Full‐Scale Production
10+ years
Pilot Plant Field Demonstrationat Scale
Full-scale Production f
LaboratoryBench
Infrastructure
$Billions$ Millions $10’s Millions $100’s Millions
R&D Validate systems integration
Validate scale-up and continuous operations
© 2011 Chevron Technology Ventures
g p
What are the Big Issues Facing Biofuels?
Conflicting lawsState v. Federal Carbon calculationsConflicting laws & regulationsBlend limits Differing incentives
Scalability&&
Sustainability
EconomicsFeedstock costs
Transportation of
Conversion technology scale‐up
Value vs. traditional
© 2011 Chevron Technology Ventures 8
pbiomass & products
petroleum‐based products
Key Considerations
There is no single or perfect solution
• Issues of dependency, reliability of supply, environmental footprint and cost apply to all fuels
• All energy sources – including biofuels - contain a number of variables that require a robust analysis of benefits, risks and trade-offs
• Conservation and usage of a mix of various economic fuels will be needed to meet demand
A competitive market will help identify winners
• Market-based competition amongst technologies should be maximized
• Long-term successful fuels must compete without subsidies• Long-term, successful fuels must compete without subsidies
Technologies need time to develop
© 2011 Chevron Technology Ventures
• Innovation cannot be scheduled
Market Adoption of Transportation Fuels
Provide equal or improved driving performance, safety, reliability and comfortreliability and comfort
Be competitively pricedp y p
Be convenient, readily available
Increasingly, have lower carbon footprint
Be economical at large scale
© 2011 Chevron Technology Ventures
CONTACT INFORMATION
Puneet Verma
Chevron Technology Ventures
© 2011 Chevron Technology Ventures