With biofuels likely to become a global industry by 2012, companies that emerge as leaders will have to be nimble and develop flexible strategies to negotiate inherent market uncertainties.Accenture reached that conclusion in a recent report entitled “Irrational Exuberance? An assessment of how the burgeoning biofuels market can enable high performance: a supply perspective.” The report examines future scenarios for biofuels production, processing, and distribution.Diversity of transportation fuels will be a fundamental change for the oil industry in the coming decade, said Melissa Stark, Accenture senior executive in the energy practice in London. She wrote the report after a...