With many Americans clamoring for the government to create more jobs, an analysis of a sample of biofuel projects and studies shows that developing this industry will lead to the creation of thousands of new jobs.
News site, Biofuels Digest recently analyzed a sample of 34 international biofuel projects and studies issued within the last 30 months. Their research showed that 0.57 jobs are created for every $1 million invested in bioprocessing capacity. Furthermore, for every million gallons of biofuel capacity genrated, 15.80 jobs are created (including farm jobs).
When Biofuels Digest narrowed its analysis to the United States, it deduced that 18.10 direct jobs and 4.75 indirect jobs are created for every one million gallons of biofuel produced.
Finally, the Diges discovered that if the American Renewable Fuels mandates, which call for an increased installed capacity from today's 13 billion gallons to 36 billion gallons by 2022, are to be met, they will require $67.85 billion in investment; create 363,000 direct jobs; and generate 1.707 million indirect jobs.
Read the full story at Biofuels Digest: Thanks for the energy security - Uh, How Many Jobs Is That?
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Nathanael Baker is the Managing Editor of EnergyBoom. He has researched and reported on the issues of renewable energy, sustainability, and climate change for over two years. He has provided research to the New York Times and The Economist, as well as being published on different media outlets including, The Energy Collective.
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