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Registros recuperados: 227
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Policies to Facilitate Conversion of Millions of Acres to the Production of Biofuel Feedstock AgEcon
Epplin, Francis M.; Haque, Mohua.
First-generation grain ethanol biofuel has affected the historical excess capacity problem in U.S. agriculture. Second-generation cellulosic ethanol biofuel has had difficulty achieving cost-competitiveness. Third-generation drop-in biofuels are under development. If lignocellulosic biomass from perennial grasses becomes the feedstock of choice for second- and third-generation biorefineries, an integrated system could evolve in which a biorefinery directly manages feedstock production, harvest, storage, and delivery. Modeling was conducted to determine the potential economic benefits from an integrated system. Relatively low-cost public policies that could be implemented to facilitate economic efficiency are proposed.
Tipo: Journal Article Palavras-chave: Biomass; Bio-oil; Cellulosic; Drop-in fuels; Ethanol; Land-lease contract; Lignocellulosic; Pyrolysis; Switchgrass; Resource /Energy Economics and Policy; Q16; Q18; Q15; Q42.
Ano: 2011 URL: http://purl.umn.edu/113532
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The Emergence of an Agro-Energy Sector: Is Agriculture Importing Instability from the Oil Sector? AgEcon
Muhammad, Andrew; Kebede, Ellene.
Tipo: Journal Article Palavras-chave: Corn; Oil; Ethanol; Biofuels; Prices; Agribusiness; Q11; Q42; Q48.
Ano: 2008 URL: http://purl.umn.edu/94695
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A Welfare Analysis of the U.S. Ethanol Subsidy AgEcon
Du, Xiaodong; Hayes, Dermot J.; Baker, Mindy L..
Based on a transparent analytical model of multiple markets including corn, ethanol, gasoline, and transportation fuel, this study estimates the welfare changes for consumers and producers resulting from ethanol production and related support polices in 2007. The welfare estimation takes into account the second-best gain from eliminating loan deficiency payments. The results suggest the total social cost is about $0.78 billion for given market parameters. We validate the model’s underlying assumption and test for the results’ sensitivity to assumed parameters.
Tipo: Working or Discussion Paper Palavras-chave: Consumer surplus; Deadweight loss; Ethanol; Subsidy; Substitution.; Resource /Energy Economics and Policy.
Ano: 2008 URL: http://purl.umn.edu/44538
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Assessing Economic and Environmental Impacts of Ethanol Production on Fertilizer Use in Corn Production AgEcon
Nehring, Richard F.; Vialou, Alexandre; Erickson, Kenneth W.; Sandretto, Carmen L..
The share of corn used in ethanol production has been growing rapidly. USDA predicts that more than 30 percent of the corn crop will be used for ethanol production in 2009/2010. Expanded corn acreage contributes to the application of more fertilizer and is likely to introduce a larger volume of nutrients into the environment. This study found that an increase in ethanol production is consistent with a significant increase in quality-adjusted fertilizer use in selected corn states.
Tipo: Conference Paper or Presentation Palavras-chave: Quality-adjusted fertilizer; Corn production; Ethanol; Excess nutrients; Crop Production/Industries; Environmental Economics and Policy.
Ano: 2008 URL: http://purl.umn.edu/6736
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Impact of United States Corn-Based Ethanol Production on Land Use AgEcon
Sobowale, Flakkeh; Dicks, Michael R.; Adam, Brian D.; Campiche, Jody L..
This study measures the impact of corn-based ethanol production in the United States on land use in other countries, or indirect land use. Indirect land use is a change from non-cropland to cropland (e.g. deforestation) that may occur in response to increasing scarcity of cropland. As farmers worldwide respond to higher crop prices in order to maintain the global food supply and demand balance, pristine lands are cleared and converted to new cropland to replace the crops for feed and food that were diverted elsewhere to biofuel production. The results show that increasing ethanol production in the US has a positive and significant relation to U.S corn price. However, U.S. corn price does not have a significant impact on changes in corn acreage in Brazil...
Tipo: Presentation Palavras-chave: Ethanol; Indirect land use; Agricultural and Food Policy; Demand and Price Analysis; Land Economics/Use; Marketing.
Ano: 2012 URL: http://purl.umn.edu/119800
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Biofuels: review of policies and impacts AgEcon
Janda, Karel; Kristoufek, Ladislav; Zilberman, David.
This paper provides an overview of the environmental, economical, and policy considerations related to biofuels. While the biofuel production and consumption exhibited significant increase over the first decade of the new millennium, this and further increases in biofuel production are driven primarily by government policies. Currently available first generation biofuels are with a few exceptions not economically viable in the absence of fiscal incentives or high oil prices. Also the environmental impacts of biofuels as an alternative to fossil fuels are quite ambiguous. The review of the most recent economic models dealing with biofuels and their economic impacts provides a distinction between structural and reduced form models. The review of...
Tipo: Working Paper Palavras-chave: Biofuels; Ethanol; Biodiesel; Political Economy; Research and Development/Tech Change/Emerging Technologies; Resource /Energy Economics and Policy.
Ano: 2012 URL: http://purl.umn.edu/120415
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Breaking into the Cellulosic Ethanol Market: Capacity and Storage Strategies AgEcon
Darby, Paul M.; Mark, Tyler B.; Salassi, Michael E..
This paper examines the possibilities of breaking into the cellulosic ethanol market in south Louisiana via strategic feedstock choices and the leveraging of the area’s competitive advantages. A small plant strategy is devised whereby the first-mover problem might be solved, and several scenarios are tested using Net Present Value analysis.
Tipo: Conference Paper or Presentation Palavras-chave: Cellulosic ethanol; Sugarcane; Energy cane; Sweet sorghum; Bagasse; Ethanol; Biofuel; Bioethanol; Agribusiness; Agricultural Finance; Crop Production/Industries; Production Economics; Research and Development/Tech Change/Emerging Technologies; Resource /Energy Economics and Policy.
Ano: 2010 URL: http://purl.umn.edu/56542
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Economic Efficiency of Ethanol Plants in the US North Central Region AgEcon
Sesmero, Juan P.; Perrin, Richard K.; Fulginiti, Lilyan E..
In this study we use data envelopment analysis to decompose the overall economic efficiency of a sample of ethanol plants into three subcomponents: technical efficiency, allocative efficiency and a new component we call marketing efficiency. The relative importance of these sources of efficiency is of particular interest given the recent history of bankruptcies, plant closings and ownership change in the industry. Results reveal that observed production units are very efficient from a technical point of view as suggested by a standard deviation of 1% in technical efficiency. However, our results also show that bigger plants tend to be more economically efficient than others. The conventional methodology would have identified this difference as coming from...
Tipo: Conference Paper or Presentation Palavras-chave: Ethanol; Data envelopment analysis; Efficiency decomposition; Marketing efficiency; Resource /Energy Economics and Policy.
Ano: 2010 URL: http://purl.umn.edu/61639
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Ethanol Plant Investment using Net Present Value and Real Options Analyses AgEcon
Schmit, Todd M.; Luo, Jianchuan; Tauer, Loren W..
A real option analysis of dry-grind corn ethanol plants compared to a standard net present value analysis (NPV) shows that the option values increase entry prices and lower exit prices of investment and disinvestment considerably. For a large plant, the gross margin of ethanol price over the corn price for a gallon of ethanol using NPV shows that entry will occur with a $0.45 margin and shutdown will occur at a $0.38. Under a real options framework, the margins for entry and exit become $1.33 and $0.13, respectively. Under baseline conditions, a large operating plant would become mothballed at $0.18 and reactivate if margins rebounded to $0.66. Growth in the variability of ethanol margins will delay new plant investments, as well as exits of currently...
Tipo: Working or Discussion Paper Palavras-chave: Ethanol; Net Present Value; Real Options Analyses; Environmental Economics and Policy; Financial Economics; Production Economics; Resource /Energy Economics and Policy; D21; D81; Q4.
Ano: 2008 URL: http://purl.umn.edu/51145
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The Economics of Harvesting and Transporting Corn Stover for Conversion to Fuel Ethanol: A Case Study for Minnesota AgEcon
Petrolia, Daniel R..
Corn stover harvest and transport cost functions were estimated for two harvest operations for a proposed biomass-to-ethanol conversion facility located in southern Minnesota, USA. This work presents an alternative methodology to estimating corn stover quantities and harvest costs at the county level, taking into account county-specific yields, transportation distances, erosion constraints, machinery specifications, and other key variables. Monte Carlo simulation was also used to estimate the probability distribution of costs under alternative assumption on key parameters whose values vary widely in the literature. Marginal stover cost for 50MM gal/year of ethanol output was estimated at $54/dt ($0.77/gal ethanol) for the more intensive harvest method...
Tipo: Working or Discussion Paper Palavras-chave: Biomass; Corn stover; Economics; Ethanol; Lignocellulose; Monte Carlo; Crop Production/Industries; Resource /Energy Economics and Policy.
Ano: 2006 URL: http://purl.umn.edu/14213
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Biofuels: Potential Production Capacity, Effects on Grain and Livestock Sectors, and Implications for Food Prices and Consumers AgEcon
Hayes, Dermot J.; Babcock, Bruce A.; Fabiosa, Jacinto F.; Tokgoz, Simla; Elobeid, Amani E.; Yu, Tun-Hsiang (Edward); Dong, Fengxia; Hart, Chad E.; Chavez, Eddie C.; Pan, Suwen; Carriquiry, Miguel A.; Dumortier, Jerome.
We examined four evolution paths of the biofuel sector using a partial equilibrium world agricultural sector model in CARD that includes the new RFS in the 2007 EISA, a two-way relationship between fossil energy and biofuel markets, and a new trend toward corn oil extraction in ethanol plants. At one extreme, one scenario eliminates all support to the biofuel sector when the energy price is low, while the other extreme assumes no distribution bottleneck in ethanol demand growth when the energy price is high. The third scenario considers a pure market force driving ethanol demand growth because of the high energy price, while the last is a policy-induced shock with removal of the biofuel tax credit when the energy price is high. Standard results hold where...
Tipo: Journal Article Palavras-chave: Biofuel; EISA; Ethanol; Tax credit; World agricultural sector model; Agribusiness; Consumer/Household Economics; Crop Production/Industries; Demand and Price Analysis; International Relations/Trade; Livestock Production/Industries; Political Economy; Production Economics; Resource /Energy Economics and Policy; Q13; Q18; Q38.
Ano: 2009 URL: http://purl.umn.edu/53093
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2010 Outlook for the U.S. and World Corn and Soybean Industries, 2009-2019 AgEcon
Taylor, Richard D.; Koo, Won W..
This report evaluates the United States and world corn and soybean markets for the 2009-2019 time period using the Global Corn and Soybean Policy Simulation Model. This analysis is based on a series of assumptions about general economic conditions, agricultural policies, weather conditions, and technological change. The major influence in the corn market will be U.S. corn based ethanol production. If the production of corn based ethanol remains strong, corn prices will likely remain strong. However, if the U.S. Federal government subsidies or mandates change, the world corn market could be negatively impacted. Under the current assumptions in the model, corn price is expected to remain in a range between $3.70 and $4.10 per bushel. The level of Chinese...
Tipo: Report Palavras-chave: Corn; Soybeans; Production; Exports; Consumption; Ethanol; Ending stocks; Agribusiness.
Ano: 2010 URL: http://purl.umn.edu/92003
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Are Local Corn Prices Affected by the Location of Ethanol Biorefineries? AgEcon
Katchova, Ani L..
This study examines whether the local competition for corn to produce ethanol has lead to significantly higher prices for farmers located close to ethanol biorefineries. If any, such price premiums for spatial closeness would be in addition to the general level of corn price changes experienced by farmers throughout the U.S. The difference-in-differences estimation method is used to account for both time and spatial differences in order to measure the interaction of time and spatial effects. Using the USDA’s ARMS data, the results show that while prices in real terms have changed over time, farmers located close to ethanol biorefineries have not received significantly higher prices than farmers living farther away from biorefineries. These findings...
Tipo: Conference Paper or Presentation Palavras-chave: Corn prices; Ethanol; Ethanol plant location; Difference-in-differences.; Agribusiness; Demand and Price Analysis; Resource /Energy Economics and Policy.
Ano: 2011 URL: http://purl.umn.edu/114769
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A Spatial Equilibrium Model of the Impact of Bio-Fuels Energy Policy on Grain Transportation Flows AgEcon
Ahmedov, Zafarbek; Power, Gabriel J.; Vedenov, Dmitry V.; Fuller, Stephen W.; McCarl, Bruce A.; Vadali, Sharada.
Traffic flows in the U.S. have been affected by the substantial increase and, as of January 2009, decrease in biofuel production and use. This paper considers a framework to study the effect on grain transportation flows of the 2005 Energy Act and subsequent legislation, which mandated higher production levels of biofuels, e.g. ethanol and biodiesels. Future research will incorporate changes due to the recent economic slowdown.
Tipo: Conference Paper or Presentation Palavras-chave: Ethanol; Biodiesel; Spatial equilibrium; Quadratic programming; Agricultural and Food Policy; Crop Production/Industries; Resource /Energy Economics and Policy.
Ano: 2009 URL: http://purl.umn.edu/49837
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Impact and competitiveness of EU biofuel market – First view of the prices of biofuel market in relation to the global players AgEcon
Liu, Xing.
The goal of this study is to investigate the price relationship of EU biofuel market with other main markets in both horizontal level and vertical level. We first carry out Granger causality between ethanol price of EU, USA and Brazil. Secondly, we use vecto error cointegration Mechnism (VECM) to test the relationship between three selected vegetable oil prices in EU to see the competive potential of EU rapeseed oil compared with imported crude palm oil and soybean oil as the feedstock of biodiesel. Evidence shows that there is a unidirectional Granger causation from both USA and Brazil to EU market. USA price of ethanol is the most influential among the three price series, and EU has the least influence on the contrary. It indicates that it is very...
Tipo: Conference Paper or Presentation Palavras-chave: Ethanol; Vegetable oils; Feedstock; Directives; VECM; Granger causality; Crop Production/Industries; International Relations/Trade; Research and Development/Tech Change/Emerging Technologies.
Ano: 2008 URL: http://purl.umn.edu/6501
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Economic Analysis of Cellulase Production by Clostridium thermocellum in Solid State and Submerged Fermentation AgEcon
Zhuang, Jun; Marchant, Mary A.; Nokes, Sue; Strobel, Herbert.
Dependence on foreign oil remains a serious issue for the U.S. economy. Additionally, automobile emissions related to petroleum-based, fossil fuel has been cited as one source of environmental problems, such as global warming and reduced air quality. Using agricultural and forest biomass as a source for the biofuel ethanol industry, provides a partial solution by displacing some fossil fuels. However, the use of high cost enzymes as an input is a significant limitation for ethanol production. Economic analyses of cellulase enzyme production costs using solid state cultivation (SSC) are performed and compared to the traditional submerged fermentation (SmF) method. Results from this study indicate that the unit costs for the cellulase enzyme production are...
Tipo: Working or Discussion Paper Palavras-chave: Biomass; Enzyme production; Ethanol; Solid state fermentation; Submerged fermentation; Resource /Energy Economics and Policy.
Ano: 2004 URL: http://purl.umn.edu/31982
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Impact of Ethanol Production on U.S. and Regional Gasoline Prices and On the Profitability of U.S. Oil Refinery Industry AgEcon
Du, Xiaodong; Hayes, Dermot J..
Using pooled regional time-series data and panel data estimation, we quantify the impact of monthly ethanol production on monthly retail regular gasoline prices. This analysis suggests that the growth in ethanol production has caused retail gasoline prices to be $0.29 to $0.40 per gallon lower than would otherwise have been the case. The analysis shows that the negative impact of ethanol on gasoline prices varies considerably across regions. The Midwest region has the biggest impact, at $0.39/gallon, while the Rocky Mountain region had the smallest impact, at $0.17/gallon. The results also indicate that ethanol production has significantly reduced the profit margin of the oil refinery industry. The results are robust with respect to alternative model...
Tipo: Conference Paper or Presentation Palavras-chave: Crack spread; Crude oil prices; Ethanol; Gasoline prices; Resource /Energy Economics and Policy.
Ano: 2008 URL: http://purl.umn.edu/6353
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Spatial Marketing Patterns for Corn Under the Condition of Increasing Ethanol Production in the U.S. AgEcon
Conley, Dennis M.; George, Adam.
Events external to agriculture have set in motion the conditions for structural change in the marketing of corn in the U.S. These included a rapid increase in the price of crude oil from $40 per barrel to over $100 caused by hurricanes, geopolitical events, an increased global demand for energy from countries like China and India, and in December 2007, the U.S. raising the renewable fuel standards. The results of this research show that there could be significant changes in the historical utilization and marketing of corn in the U.S. The change in movement patterns provides one source of visible evidence that a structural change is underway.
Tipo: Journal Article Palavras-chave: Ethanol; Corn; Spatial marketing; Structural change; Crude oil; Agricultural and Food Policy; Marketing; Resource /Energy Economics and Policy; Q10; Q13; Q27.
Ano: 2008 URL: http://purl.umn.edu/53726
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2011 Outlook of the U.S. and World Corn and Soybean Industries, 2010-2020 AgEcon
Taylor, Richard D.; Koo, Won W..
This report evaluates the United States and world corn and soybean markets for the 2010-2020 period using the Global Corn and Soybean Policy Simulation Model. This analysis is based on a series of assumptions about general economic conditions, agricultural policies, weather conditions, and technological change. Corn-based ethanol production has influenced United States corn industry. As long as the production of corn-based ethanol remains strong, corn prices will likely remain at a level higher than the long term average. However, changes in the U.S. Federal government subsidies or mandates could significantly impact the world corn market. Under the current assumptions in the model, corn price is expected to remain in a range between $4.68 and $5.35 per...
Tipo: Report Palavras-chave: Crop Production/Industries; Food Consumption/Nutrition/Food Safety; Production Economics; Corn; Soybeans; Production; Exports; Consumption; Ethanol; Ending stocks.
Ano: 2011 URL: http://purl.umn.edu/115564
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Challenges to Producer Ownership of Ethanol and Biodiesel Production Facilities AgEcon
Kenkel, Philip L.; Holcomb, Rodney B..
This study examines the rapidly expanding biofuels industry and identifies challenges for producer-owned biofuel projects. The U.S. ethanol industry has been growing rapidly, and biodiesel production is poised for similar growth. Producer involvement is driven by the desire to add value to farm commodities and the impact of biofuel projects on local grain prices. Local state and federal incentives have also stimulated producer interest. The long-run profitability of biofuel projects is driven by feedstock availability, access to market centers for biofuels, access to markets for coproducts, and utility costs and availability. The rapidly increasing size and scale of ethanol and biodiesel plants make it difficult for producers to fund these projects....
Tipo: Journal Article Palavras-chave: Alternative energy biodiesel; Ethanol; Producer-owned business; Production Economics; Resource /Energy Economics and Policy; O13; Q42; Q55.
Ano: 2006 URL: http://purl.umn.edu/43772
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