Data/hora: 02/06/2024 15:51:27

Provedor de dados: 	Research in Agricultural & Applied Economics (AgEcon Searh)	
País: 	United States	
Título: 	Crop-Based Biofuel Production under Acreage Constraints and Uncertainty	
Autores: 	Baker,   Mindy L.; Hayes,   Dermot J.; Babcock,   Bruce A.	
Data: 	2008-05-07	
Ano: 	2008	
Palavras-chave: 	Biodiesel; Biofuels; Cellulosic; Dynamic; Ethanol; General equilibrium; Monte Carlo; Market; Crop Production/Industries; Political Economy; Resource /Energy Economics and Policy; Risk and Uncertainty.	
Resumo: 	A myriad of policy issues and questions revolve around understanding the bioeconomy. To gain insight, we develop a stochastic and dynamic general equilibrium model and capture the uncertain nature of key variables such as crude oil prices and commodity yields. We also incorporate acreage limitations on key feedstocks such as corn, soybeans, and switchgrass. We make standard assumptions that investors are rational and engage in biofuel production only if returns exceed what they can expect to earn from alternative investments. The Energy Independence and Security Act of 2007 mandates the use of 36 billion gallons of biofuels by 2022, with significant requirements for cellulosic biofuel and biodiesel production. We calculate the level of tax credits required to stimulate this level of production. Subsidies of nearly $2.50 per gallon to biodiesel and $1.86 per gallon to cellulosic biofuel were required, and long-run equilibrium commodity prices were high, with corn at $4.76 per bushel and soybeans at $13.01 per bushel. High commodity prices are due to intense competition for planted acres among the commodities.	
Tipo: 	Working or Discussion Paper	
Idioma: 	Inglês	
Identificador: 	29572

http://purl.umn.edu/6314	
Relação: 	Iowa State University&gt;Center for Agricultural and Rural Development&gt;CARD Working Paper Series

CARD Working Paper

08-WP 460	
Formato: 	36