fuel standard in a dynamic model taking into account that oil is a non-renewable resource. Second, we model emissions from … extraction of oil is postponed as a consequence of the renewable fuel standard. Thus, if emissions from biofuels are negligible … (i.e., oil plus biofuels) consumption initially. Hence, even if emissions from biofuels are non-negligible, a renewable …

under way in Europe and in the USA to account for emissions from indirect land-use change (ILUC). Despite their influence on …