Hanoi Times - Vietnam holds potential and is eager to develop renewable energy sources amid an exhaustion of traditional fuel, a symposium o­n bio-fuel development in Hanoi o­n July 25 heard. Speaking at the event, Institute of Policy and Strategy for Agricultural and Rural Development Director Nguyen Kim Son said that in the near future crude oil sources will become exhausted, while traditional energy sources such as electricity, water, coal and nuclear will fall short of supply.Son noted that a possible energy crisis will push up oil price and Vietnam will be unable to import more than 15-17 million tonnes per year. Like many other countries, Vietnam has begun to use wind and solar energy, and biogas, but with low outputs and o­n small scale, he added.Meanwhile, Vietnam boasts huge potential for bio-fuel development as it has many material plants such as sugarcane, cassava, jatropha and castor-oil trees and seaweed with by-products of rubber seed, fish fat, used oil and lubricants.Of the plants, jatropha trees that have high bio-oil content were brought from South America into Vietnam and proved to be adaptable with the country’s climate. Oil abstracted from the jatropha seeds is considered the most chemically and physically suitable for producing bio-diesel.Having recognised economic and environmental benefits brought by bio-fuel production from plants, many participants voiced concern about Vietnam ’s food security because the country has seen its farmland acreage narrowed in recent years and had to import a number of foods such as maize. Others emphasised the need to work out a strategy to develop bio-fuel with low costs and without negative impacts o­n the environment and large subsidy from the State.In November 2007, the government approved a bio-fuel development project until 2015 with a vision through 2025 to produce different kinds of renewable energy and partly replace traditional fuels.As apart of the project, around 250,000 tonnes of ethanol and vegetable oil will be produced to meet 1 percent of the country’s petroleum demand by 2015.The seminar was co-organised by the Ministry of Agriculture and Rural Development, the Institute of Policy and Strategy for Agricultural and Rural Development and the Asian Development Bank.