March 12, 2007
U.S. and Brazil to advance cooperation on biofuels
Washington, D.C. – U.S. Secretary of State Condoleezza Rice and Brazilian Foreign Minister Celso Amorim have signed a memorandum of understanding to advance cooperation on biofuels. As the world’s two largest producers of ethanol, the U.S. and Brazil intend to advance the research and development of new technologies to promote biofuels use.
The nations say that reducing the cost of biofuel production, land use demands and price pressures on feedstocks are keys to increasing global adoption of the fuels. Regionally, the two nations intend to help third-party countries, beginning in Central America and the Caribbean, to stimulate private investment for local production and consumption of biofuels. The countries expect to support feasibility studies and technical assistance in partnership with the Inter-American Development Bank, the United Nations Foundation, and the Organization of the American States.
Multilaterally, the U.S. and Brazil intend to work through the International Biofuels Forum to examine development of common biofuels standards and codes to facilitate commoditization of biofuels. U.S. President Bush has set a goal of reducing America’s projected annual gasoline use by 20 per cent in 10 years, by increasing alternative energy and improving energy efficiency. A key pillar of the goal is diversification of supply, including the promotion of alternative fuels such as biofuels.