In the past several years, high oil and gas prices, instability in many oil producing countries, and concerns about global climate change have heightened interest in ethanol and other biofuels as alternatives to petroleum products. Reducing oil dependency is a goal shared by the United States and many countries in Latin America and the Caribbean, a region composed primarily of energy-importing countries. In the region, Brazil stands out as an example of a country that has become a net exporter of energy, partially by increasing its production and use of sugar-based ethanol. On March 9, 2007, the United States and Brazil, which together produce almost 70% of the world's ethanol, signed a Memorandum of Understanding (MOU) to promote greater cooperation on ethanol and other biofuels in the Western Hemisphere. The countries agreed to (1) advance research and development bilaterally, (2) help build domestic biofuels industries in third countries, and (3) work multilaterally to advance the global development of biofuels. This report may be updated.
Title from cover. "September 27, 2007." Title from title screen (viewed on Nov. 27, 2007).
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