This report assesses the state of biofuel use throughout the world, examining their policy matrix, market status, socio-economic effects, and environmental trade-offs. Additionally, the report examines the expected trends in both biofuel production and technology changes. It concludes with a series of recommendations to expand the use of biofuels, encouraging greater research into the life-cycle impacts of both new and old biofuel feedstocks as well as policy measures to harmonize the regulatory environment as well as foster private investment.