Economic Benefits

The World Bank states that the biofuel industry has hired 100 times more workers per unit of energy, rather than the fossil fuel industry. They also state that the ethanol industry has recruited about 200,000 jobs in the United States and about 500,000 jobs in Brazil. There was a study conducted by the University of Tennessee stated that producing about 25% of the United States' energy from agriculture can result in $700 billion dollars annually, create almost 5.1 million jobs, and introduce $180 billion net income to the farm industry by 2025. By creating more biofuels, we can stop our dependency on oil and even limit oil prices. For example, in 2008 485 million barrels of ethanol were created, which equal to be 320 million barrels of oil. And if these ethanol barrels were not created, oil companies would have to make up for those 320 million barrels, thus eventually rising prices of oil. A gallon of ethanol costs around $.75 cents to make, while the average gallon of gasoline costs around $1.60 to process. As you can see to the left, this is a graph of how much of the U.S. Trade Deficit we spend for petroleum. If we can start to increase the use of biofuels in America, we can start to lower the amount of money we spend on foreign oils. (Citation 15)

Political Impact

Using these biofuels decreases our addiction to oil in foreign countries, which can cause problems. About 45% of the oil we consume is foreign oil, if we make the switch to ethanol or other biofuels, we can prosper our own economy. By doing this, we can also preserve the natural reserves of oil in our Earth because biofuels are renewable and we will not run out of biofuels, as long as there still is an agricultural community in the world. As you can see to the chart to the right, our dependency on oil has grown significantly over the past few decades. (Citation 16)

Social Benefits

By making the switch to biofuels we can start treading on the path of improving the health of our citizens, reducing greenhouse gases, and aiding our agricultural community. Studies show that, compared to regular petroleum/diesel exhaust, biofuel emissions are significantly lower in harmful polycyclic aromatic hydrocarbons (PAH) and nitrated PAH compounds. These compounds have been shown to harm endocrine, reproductive, and immune systems in humans and wildlife. Using biofuels can improve the Earth that all of mankind lives in because the harmful CO2 emissions released by regular petroleum/diesel produce holes in the ozone layer of our atmosphere and can let harmful UV rays inside the Earth, thus harming humans and wildlife. Since biofuels run on crops like soybean oil, palm oil, and grapeseed oil we can stimulate the agricultural societies because the need of these crops will skyrocket to produce significant amounts of biofuel. Biofuels will not pollute groundwater, such as gasoline, because as soon as the biofuel comes in contact with the water, it will degrade and become harmless to the environment. (Citation 17)