The last 10 years have seen tremendous expansion in biofuels production, particularly in corn ethanol in the United States, at the same time that commodity prices (e.g., corn) have experienced significant spikes. While supporters claim that biofuels are renewable and carbon-friendly, concerns...

Anticipation of an International Environmental Agreement provides an incentive for countries to change their production behavior prior to negotiations in order to gain a favorable bargaining position. Increased historical production figures at the time of negotiations may influence the magnitude...