The D4 RIN is the tradable compliance certificate for the biomass-based diesel mandate in the Renewable Fuel Standard (RFS). Understanding the price dynamics of the D4 RIN is important for understanding the RFS because its price sets a ceiling on the ethanol RIN (D6) and because some observers...

Increased global demand for biofuels is placing increased pressure on agricultural systems at a time when traditional sources of yield improvements have been mostly exhausted, generating concerns about the future of food prices. This paper estimates the impact of global adoption of genetically...

Biofuel production is being promoted through various policies such as mandates and tax credits. This paper uses a dynamic, spatial, multi-market equilibrium model, Biofuel and Environmental Policy Analysis Model (BEPAM), to estimate the effects of these policies on cropland allocation, food and...

This paper estimates household preferences for ethanol as a gasoline substitute. I develop a theoretical model linking the shape of the ethanol demand curve to the distribution of price ratios at which individual households switch fuels. I estimate the model using data from many retail fueling...

We present a new framework to identify demand and supply elasticities of agricultural commodities using yield shocks - deviations from a time trend of output per area, which are predominantly caused by weather fluctuations. Demand is identified using current-period shocks that give rise to...

The history of innovation in the chemical industry offers many insights for accelerating energy innovation. In this chapter, we begin by laying out the early history of the chemical industry for an overview of the role innovation has played in its development. We then explore three noteworthy...