An Economic Evaluation of US Biofuel Expansion Using the Biofuel Breakeven Program with GHG Accounting

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 long-run markets. Based on current market conditions, our results suggest that long-run cellulosic ethanol production is not sustainable without significant government intervention or high long-run oil prices ($135-170 per barrel). Using life-cycle analysis for cellulosic ethanol and conventional gasoline, we extend the BioBreak program results to derive an implicit value of reduced greenhouse gas emissions embodied in cellulosic ethanol. For the markets considered in our analysis, sustaining cellulosic ethanol production is equivalent to valuing the reduction in CO2 equivalents between$141 and $282 per metric ton.This research was supported (in part) by Iowa State University's Biobased Industry Center (BIC)

AN ANALYSIS OF REGIONAL ECONOMIC GROWTH IN THE US MIDWEST

In this paper we examine more closely some of the forces that underlie economic growth at the county level. In an effort to describe a much more comprehensive regional economic growth model, we address a variety of different growth hypotheses by introducing a large number of growth related variables. When formulating our hypotheses and specifying our growth model we make liberal use of GIS mapping software to "paint" a picture of where growth spots exist and why. Our empirical estimation indicates amenities, state and local tax burdens, population, amount of agricultural activity, and demographics have important economic growth impacts.Community/Rural/Urban Development,

Inference Based on Alternative Bootstrapping Methods in Spatial Models with an Application to County Income Growth in the United States

This study examines correlates with aggregate county income growth across the 48 contiguous states from 1990 to 2001. Since visual inspection of the variable to be explained shows a clear spatial relationship and to control for potentially endogenous variables, we estimate a two-stage spatial error model. Given the lack of theoretical and asymptotic results for such models, we propose and implement a number of spatial bootstrap algorithms, including one allowing for heteroskedasticity, to infer parameter significance. Among the results of a comparison of the marginal effects in rural versus non-rural counties, we find that outdoor recreation and natural amenities favor positive growth in rural counties, densely populated rural areas enjoy stronger growth, and property taxes correlate negatively with rural growth

An Analysis of Regional Economic Growth in the U.S. Midwest

In this paper we examine some of the economic forces that underlie economic growth at the county level. In an effort to describe a much more comprehensive regional economic growth model, we address a variety of different growth hypotheses by introducing a large number of growth related variables. When formulating our hypotheses and specifying our growth model we make liberal use of GIS (geographical information systems) mapping software to paint a picture of where growth spots exist. Our empirical estimation indicates that amenities, state and local tax burdens, population, amount of primary agriculture activity, and demographics have important impacts on economic growth

Economic Perspectives on GMO Market Segregation

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Potential process 'hurdles' in the use of macroalgae as feedstock for biofuel production in the British Isles

This review examines the potential technical and energy balance hurdles in the production of seaweed biofuel, and particular for the MacroBioCrude processing pipeline for the sustainable manufacture of liquid hydrocarbon fuels from seaweed in the UK. The production of biofuel from seaweed is economically, energetically and technically challenging at scale. Any successful process appears to require both a method of preserving the seaweed for continuous feedstock availability and a method exploiting the entire biomass. Ensiling and gasification offer a potential solution to these two requirements. However there is need for more data particularly at a commercial scal

Is Area-Wide Pest Management Useful? The Case of Citrus Greening.

Citrus greening currently poses a severe threat to citrus production worldwide. No treatment or management strategy is yet available to cure the disease. Scientists recommend controlling the vector of the disease, and area-wide pest management has been proposed as a superior alternative to individual pest management. We analyzed a unique dataset of farm-level citrus yields that allowed us to test this hypothesis. We found that yields of blocks located in an area with higher participation in coordinated sprays were 28%, 73% and 98% percent higher in 2012/13, 2013/14, and 2014/15, respectively, compared to the yields of blocks under the same management but located in an area with lower participation; providing evidence on the efficiency of a well-performing pest management area to deal with HLB. However, participation in CHMAs has not been commensurate with this evidence. We present survey data that provide insights about producers’ preferences and attitudes toward the area-wide pest management program. Despite the economic benefit we found area-wide pest management can provide, the strategic uncertainty involved in relying on neighbors seems to impose too high of a cost for most growers, who end up not coordinating sprays

Long-term biofuel projections under different oil price scenarios

With rapid expansion of biofuel production, major concerns have arisen over higher food costs and competition between food, feed, and biofuel for energy-rich commodities. Most projections are based on short- and intermediate-term commodity price shocks. We estimate long-term biofuel demand and cost-minimizing supply functions for feedstock and biofuel in developed and developing countries. We assume input and output coefficients and substitution elasticities adjust over time in response to changing prices in a dynamic market environment with productivity growth. Three alternative oil price scenarios are considered for biofuel feedstock production and conversion. The price of oil puts both a floor and ceiling on feedstock price. We conclude that global biofuel expansion will be limited in the absence of government incentives and mandates, unless high real oil prices prevail. Countries and regions need large, excess feedstock supplies (price-elastic response) if biofuel expansion is to be competitive with oil or other liquid fuels