This month, I had a chance to verify my armchair thesis that all liquid biofuels will end up in the air—diverted to the passenger aviation industry and the world's air forces. At a fuel forum attended by members of the international aviation industry in Los Angeles (LA), California, there were presentations and a small "marketplace" for biojet fuel technologists who were showing their wares. Biojet actors will get a higher-profile showcase at the UK Farnborough International Air Show later this year.

R&D for biojet fuel technologies. A massive R&D effort is already preoccupying development companies such as Honeywell's UOP, Rentech and, through a recent $600 million acquisition, ExxonMobil. And this year, European oil companies will have to decide when and how they are going to address requirements to comply with renewables and greenhouse gas reduction directives. These are likely to mean a substantial and growing price advantage to fuels that are blended with renewable elements.