The federal government now confronts considerable political pressure to add CO2 to the existing set of criteria air pollutants. As with current criteria pollutants, proposals call for control of CO2, assuming that the control of the each of the three criteria pollutants is separable from the...

We employ an open economy general equilibrium model to investigate the effects of government energy policy, with an emphasis on corn-based ethanol, on the U.S. economy. The model specification incorporates world and domestic markets, assumes pollution costs from fuel consumption, and allows...

Significant government support for biofuels has led to rapid growth in U.S. ethanol production and research to develop more advanced biofuels. In this paper we construct a general equilibrium, open economy model that captures the rationale typically invoked to justify government intervention in...

This paper provides an overview of the economics of biofuels. It starts by describing the remarkable growth of the biofuel industry over the last decade, with emphasis on developments in the United States, Brazil and the European Union, and it identifies the driving role played by some critical...

During the past half century, per-acre maize yields have increased due to improved cultivars, better management, and favorable weather.  Recent US biofuel legislation, e.g., revised Renewable Fuel Standard, has increased the demand for bio-fuel and added competition for available cropland. ...

We present results from an application of the Biofuel Breakeven program (BioBreak) to 14 US cellulosic ethanol markets that vary by feedstock and location.  BioBreak estimates the economic costs of cellulosic biofuel production for each market and identifies the necessary conditions to sustain...