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Breaking the Link between Food and Biofuels AgEcon
Babcock, Bruce A..
Production of biofuels from feedstocks that are diverted from food production or that are grown on land that could grow crops has two important drawbacks: higher food prices and decreased reduction in greenhouse gas emissions. If U.S. policy were to change and place greater emphasis on food prices and greenhouse gas reductions, then we would transition away from current feedstocks toward those that do not reduce our ability to produce food. Examples of such feedstocks include crop residues, algae, municipal waste, jatropha grown on degraded land, and by-products of edible oil production. Policy options that would encourage use of these alternative feedstocks include placing a hard cap on ethanol and biodiesel production that comes from corn and refined...
Tipo: Report Palavras-chave: Biofuels; Feedstocks; Food prices; Policy..
Ano: 2008 URL: http://purl.umn.edu/37752
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China-U.S. Potential Non-food Ethanol Exportation AgEcon
Yeboah, Osei-Agyeman; Ofori-Boadu, Victor; Li, Tongzhe.
To reduce national oil dependency, ethanol has been given a center stage of U.S. energy sources. The Renewable Fuel Standard (RFS) program was launched to increase the volume of renewable gasoline from 9 billion gallons in 2008 to 36 billion gallons by 2012, among which 15 billion are corn-based ethanol, while U.S. corn-based ethanol can hardly achieve this level. There is a trend that indicates U.S. importing ethanol from other countries, so a bilateral trade system has been established between U.S. and Brazil since 2003. The annual import is 211 million gallons in 2008 (USDC, 2009). Nevertheless, this amount is far away from the target, and the worldwide food shortage called us to divert our attention from fuel to food. China, as the third largest...
Tipo: Conference Paper or Presentation Palavras-chave: Ethanol; Efficiency; Non-food; Productivity; Feedstocks; Agricultural and Food Policy; International Relations/Trade; Productivity Analysis; Resource /Energy Economics and Policy.
Ano: 2010 URL: http://purl.umn.edu/56469
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Volatility Spillovers between Food and Energy Markets, A Semiparametric Approach AgEcon
Serra, Teresa.
Previous literature on volatility links between food and energy prices is scarce and mainly based on parametric approaches. We assess this issue by using a semiparametric GARCH model recently proposed by Long et al. (2009), which is essentially a nonparametric correction of the parametric conditional covariance function. We focus on price links between crude oil, ethanol and sugar prices in Brazil. Results suggest strong volatility links between the prices studied. They also suggest that parametric approximations of the conditional covariance matrix may lead to misleading results and can be improved using nonparametric techniques.
Tipo: Conference Paper or Presentation Palavras-chave: Biofuels; Feedstocks; Price volatility interactions; Semiparametric GARCH; Demand and Price Analysis; Resource /Energy Economics and Policy; Q11; Q42; C58.
Ano: 2011 URL: http://purl.umn.edu/115997
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