Biofuels, Energy Security, and Future Policy Alternatives. Wally Tyner
|
|
- Hector Little
- 5 years ago
- Views:
Transcription
1 Biofuels, Energy Security, and Future Policy Alternatives Wally Tyner Purdue University
2 Ethanol Economics Ethanol has value as energy and as an additive to gasoline The energy content is about 68% of gasoline It has value as an octane enhancer since it has octane of 112 compared with 87 for regular gasoline The additive value has varied considerable through time, averaging 25 cents per gallon over the past 7 years could fall to near zero
3 Policy History The US has subsidized ethanol since 1978 with a subsidy ranging between 40 and 60 cents per gallon. The current federal subsidy is 51 cents per gallon, and there are some state subsidies as well. The price of crude oil ranged between $10 and $30/bbl. between 1982 and 2003 With these crude prices, the ethanol subsidy did not put undue pressure on corn prices.
4 Crude Oil Price History $ /bbl. Jan-7 8 Jan-8 0 Jan-8 2 Jan-8 Jan-8 Jan-8 Jan-9 Jan-9 Jan-9 Jan-9 Jan-9 Jan Jan-0 Jan-0 Jan
5 Breakeven Corn and Crude Prices with Ethanol Priced on Energy and Premium Bases Plus $0.51 Ethanol Subsidy Crude ($ $/bbl) Energy basis Price premium for octane/oxygen = 0.35 With 0.51 fixed subsidy and035pricepremium 0.35 premium Corn ($/bu)
6 Corn Use for Ethanol By the end of this year about 3 bil. bu. of corn will be used to produce about 8 bil. gal. of ethanol about 23% of the crop It could go to 4 bil. bu. in 2008 over 30% of the crop With more corn used for ethanol, we might expect: More corn to be produced and higher prices already here Less corn to be exported Somewhat less corn to be fed Higher price volatility
7 Future Ethanol Prospects I expect that corn ethanol will continue growing a bit, but nothing like the recent past. Future prospects depend on the prices of crude and gasoline and ethanol plus the corn price Following graphs provide one version of that future based on current capital and operating costs and futures prices for gasoline, ethanol, and corn.
8 Corn and Ethanol Futures Prices, Aug 10, 2007 $4.30 $2.10 $4.10 $4.04 $2.00 Co orn $/bu $3.90 $3.70 $3.50 $1.83 $1.90 $1.80 $1.70 Etha anol $/gal $ $3.33 Corn Futures Price ($/bu) Ethanol Futures Price ($/gal) $1.68 $1.60 $3.10 $ Se ep 07De ec 08Ma ar 08Ma ay 08Ju ul 08Se ep 08De ec 09Ma ar 09Ju ul 09De ec Source: FCA-ORP from Chicago Board of Trade.
9 Pric ces, $/Gallon $2.60 $2.50 $2.40 $2.30 $2.20 $2.10 $2.00 $1.90 $1.80 $1.70 $1.60 $1.50 $1.40 $1.30 $1.20 $1.10 $1.00 Ethanol Prices and Gasoline Futures Price, Aug 10, 2007 $2.07 $1.95 $1.83 $1.31 $1.32 Unleaded Gasoline Futures Price ($/gal) Ethanol Futures Price ($/gal) 67% Energy-Equivalent E Ethanol Price Ethanol Futures Price less the Excise Tax Credit $1.79 $1.68 $1.20 $ Se ep 07De ec 08M ar 08Ma ay 08J ul 08Se ep 08De ec 09M ar 09J ul 09De ec Source: FCA-ORP based on Daily Futures Prices.
10 $0.35 Dry Mill Ethanol Plant: Net Returns per Gallon, (Based on Futures Prices for Corn and Ethanol) $0.30 $0.25 $0.20 $ /03/07 08/10/07 $ pe er Gallon $0.15 $0.10 $0.05 $0.00 -$0.05 -$0.10 -$0.15 -$ $ Se ep 07De ec 08Ma ar 08Ma ay 08Ju ul 08Se ep 08De ec 09Ma ar 09Ju ul 09De ec Source:FCA-ORP Ethanol Model, prices from Chicago Board of Trade.
11 Market Failures and Policy Alternatives Both energy security and GHG emissions are examples of situations when markets alone cannot deliver an optimal solution. Economists call these externalities, and suggest using taxes, subsidies, or some form of regulation to correct the market failure In the U.S., we do not generally use of taxes in this situation, so I will focus on subsidies and renewable fuel standards
12 Policy Alternatives Stay the course with current policy Reduce the fixed subsidy Variable subsidy Two part subsidy designed to include energy security and GHG emission i reductions Special incentives for cellulose ethanol Alternative fuel standard Combination of alternative fuel standard and variable subsidy
13 Stay with Current Policy Staying with the current fixed 51 cent per gallon subsidy would likely l result in markets keeping the corn price high and stimulating investment in ethanol until the corn price chokes off profitability There would be some food cost increases due to higher corn prices Global impacts are very important and quite difficult to estimate
14 Variable Subsidy The energy security externality can be handled through either a fixed or variable subsidy. A subsidy that varies with the price of crude oil would be a means of reducing the cost of the government subsidy while still providing a safety net if crude oil prices fall significantly The variable subsidy has two parameters: Crude price at which it begins ($60) Increase in the subsidy for each $1 crude falls below that price (2.5 cents/$)
15 Breakeven Corn and Crude Prices with Ethanol Priced on Energy and Premium Bases plus Variable Ethanol Subsidy Crude ($ $/bbl) Energy basis With price premium and variable subsidy ($60/0.025) 025) Price premium for octane/oxygen Corn ($/bu)
16 Two-Part Subsidy To handle both the energy security and global warming issues, we could have a subsidy that incorporated both According to Hill and Tilman, corn ethanol reduces GHG 12.4%, soy biodiesel 40.5%, and cellulose ethanol as much as 275%, depending on production conditions.
17 Two-Part Subsidy Biodiesel contains 1.5 times the energy of ethanol, so it would receive an energy security credit 1.5 times ethanol based on imported oil displaced. The next chart illustrates how such a two part subsidy might work with components for each fuel for energy security and GHG reductions
18 Two Part Bioenergy Subsidy $/g gal Corn Eth Biodiesel Cell Eth National security GHG Emission red.
19 Cellulose Ethanol Incentives One of the issues with our current system is that investors will continue to prefer corn ethanol over cellulose because cellulose is riskier We may need to consider other options for cellulose l ethanol at the beginning to stimulate investment: Investment guarantees or purchase contracts (reverse auction) Tax credits to ethanol producers for each ton of cellulose used to produce ethanol or other liquid fuel
20 Alternative Fuel Standard In his State of the Union message, the President proposed a 35 billion gallon alternative fuel standard by The Senate passed 36 bil. By 2022: Current production is about 5.3 billion Seven fold increase in years The administration estimates this would replace 15% of projected 2017 gasoline consumption With a binding mandate in place, it would no longer be necessary to subsidize alternative fuels
21 Difference Between a Fuel Standard and a Subsidy The fundamental difference between a fuel standard and a subsidy is who pays: With a subsidy, the taxpayers pay the tax credits received by fuel blenders it is part of the government budget With a fuel standard, consumers see changes in prices at the pump depending on what the alternative fuel costs relative to gasoline from crude oil If we wanted to capture the higher GHG impacts of cellulose ethanol, the standard would need to be partitioned with cellulose receiving a higher proportion
22 Fuel Cost Change from Fuel Standard 25.00% 20.00% % Change Fuel Cost 15.00% Assumes 15% fuel standard and energy equivalent pricing 10.00% 500% 5.00% 0.00% % % % Crude Equivalent Alternative Fuel Cost $40 Crude $60 Crude
23 Combination of Fuel Standard and Variable Subsidy An iron-clad fuel standard may be difficult to legislate, yet potential investors need some assurance the standard will hold The fuel standard combined with a variable subsidy might be a viable option
24 Cost of A Fuel Standard with a Variable Subsidy 30.00% 25.00% % Change Fuel Cost 20.00% 15.00% 10.00% 00% 5.00% 0.00% Variable subsidy would begin if crude oil fell below $ % % Crude Oil ($/bbl.) $60 alternative
25 Policy Impacts The current subsidy can lead to very high corn prices beneficial to corn farmers but not to livestock producers or consumers With this year s ethanol production at 8 bil. gal., the subsidy will cost $4 bil., but CBO estimated in January that commodity payments will fall $4 bil. in 2007 The variable subsidy, two-part subsidy, targeted cellulosic subsidies, or alternative fuel mandates are options Various combinations of these options could be evaluated
26 Summing Up Today s high oil prices are largely demand driven Global recession could lead to significant oil price drops Investments in alternative energy sources are risky in the face of future potential price falls without policy measures that t insure against major price drops If we want to reduce dependence on foreign oil, we must develop policy pathways that will lead us towards greater reliance on alternative energy The policy choices we make will be critical
27 Thanks very much! Questions and Comments For more information:
28 Differences Between Purdue and Iowa State Numbers Purdue assumes an additive value of 35 cents; Iowa State assumes zero Purdue varies DDGS price with corn price; Iowa State has constant DDGS price Purdue uses ethanol yield of 2.65; Iowa State uses 3.0 gal./bu. Purdue has higher capital and operating costs than Iowa State
Overhauling Renewable Energy Markets
Overhauling Renewable Energy Markets Bruce Babcock Iowa State University Presented at Recognizing Risk in Global Agriculture, Ag Symposium, Federal Reserve Bank of Kansas City. July 19, 2011. Kansas City,
More informationThe economics of biofuels. by Ronald Steenblik Director of Research
The economics of biofuels by Ronald Steenblik Director of Research Current and expected future costs of ethanol 1.0 0.8 0.6 0.4 2005 2030 Ethanol from sugar cane Ethano from maize Ethanol from sugar beet
More informationImpacts of Options for Modifying the Renewable Fuel Standard. Wallace E. Tyner Farzad Taheripour. Purdue University
Impacts of Options for Modifying the Renewable Fuel Standard Wallace E. Tyner Farzad Taheripour Purdue University The Renewable Fuel Standard (RFS) was created in 2005 and modified in 2007 with the objective
More informationBiofuels: Implications for Prices and Production. Darrel L. Good and Scott H. Irwin
Biofuels: Implications for Prices and Production Darrel L. Good and Scott H. Irwin Why Ethanol? Convert relatively abundant domestic sources of energy into a substitute for imported petroleum Energy Conversion
More informationWallace E. Tyner, Professor In collaboration with Farzad Taheripour Purdue University Michael Wang Argonne National Lab
Global Land Use Changes due to US Cellulosic Biofuel Program: A Preliminary Analysis And Updated Corn Ethanol, Biodiesel, and Sugarcane Ethanol Estimates Wallace E. Tyner, Professor In collaboration with
More information2017 Risk and Profit Conference Breakout Session Presenters. 13. Ethanol and Biodiesel Market and Profitability Prospects
2017 Risk and Profit Conference Breakout Session Presenters 13. Ethanol and Biodiesel Market and Profitability Prospects Dan O Brien Daniel O Brien was raised on a grain and livestock
More informationEPA MANDATE WAIVERS CREATE NEW UNCERTAINTIES IN BIODIESEL MARKETS
2nd Quarter 2011 26(2) EPA MANDATE WAIVERS CREATE NEW UNCERTAINTIES IN BIODIESEL MARKETS Wyatt Thompson and Seth Meyer JEL Classifications: Q11, Q16, Q42, Q48 Keywords: Biodiesel, Biofuel Mandate, Waivers
More informationRenewable Fuel Standard Potential Economic and Environmental Effects of U.S. Biofuel Policy. Public Release October 4, 2011
Renewable Fuel Standard Potential Economic and Environmental Effects of U.S. Biofuel Policy Public Release October 4, 2011 Renewable Fuel Volume Consumption Mandated by RFS2 40 35 Cellulosic biofuels Advanced
More informationUpdated Assessment of the Drought's Impacts on Crop Prices and Biofuel Production
CARD Policy Briefs CARD Reports and Working Papers 8-2012 Updated Assessment of the Drought's Impacts on Crop Prices and Biofuel Production Bruce A. Babcock Iowa State University, babcock@iastate.edu Follow
More informationMandates, Tax Credits, and Tariffs: Does the U.S. Biofuels Industry Need Them All?
CARD Policy Brief 10-PB 1 March 2010 Mandates, Tax Credits, and Tariffs: Does the U.S. Biofuels Industry Need Them All? by Bruce A. Babcock Published by the Center for Agricultural and Rural Development,
More informationThe Outlook for Biofuels
PRX BlueSky Outlook, Page 1 The Fertilizer Institute Fertilizer Outlook and Technology Conference The Outlook for Biofuels November 6, 2007 Ross Korves Economic Policy Analyst The ProExporter Network ross.korves@proexporter.com
More informationPreliminary Assessment of the Drought s Impacts on Crop Prices and Biofuel Production
CARD Policy Brief 12-PB 7 July 2012 Preliminary Assessment of the Drought s Impacts on Crop Prices and Biofuel Production by Bruce Babcock Partial support for this work is based upon work supported by
More informationEthanol Supply Chain and Industry Overview: More Harm Than Good?
Ethanol Supply Chain and Industry Overview: More Harm Than Good? Authors: Sarah L Bruce Advisor: Alexis Hickman Bateman, Edgar Blanco Sponsor: Yossi Sheffi MIT SCM ResearchFest May 23-24, 2012 Ethanol
More informationCorn Outlook. David Miller Director of Research & Commodity Services Iowa Farm Bureau Federation December 2013
Corn Outlook David Miller Director of Research & Commodity Services Iowa Farm Bureau Federation December 2013 Source: USDA-WAOB U.S. Corn Supply & Usage U.S. Corn Supply & Usage Comments With the largest
More informationFARMLAND MARKETS: PROFITABILITY AND FUTURE PERSPECTIVES
FARMLAND MARKETS: PROFITABILITY AND FUTURE PERSPECTIVES Title: The RFS and Grain and Oilseed Markets: All Eyes on the EPA Presenter: Scott Irwin Affiliation: University of Illinois Wednesday, November
More informationBiofuel Market Factors
Biofuel Market Factors Michael Cooper Ultra Green Energy Corporation, Executive Vice President Biofuel Brokers, LLC, President/Director 866-E-MY-FUEL (369-3835) info@ultragreenenergy.com emyfuel@biofuelbrokers.com
More information2012 Risk and Profit Conference Breakout Session Presenters. 9. Bio-Energy's Impact on U.S. and World Grain and Feed Markets
2 Risk and Profit Conference Breakout Session Presenters 9. Bio-Energy's Impact on U.S. and World Grain and Feed Markets Daniel O Brien Daniel O Brien was raised on a grain and livestock
More informationAn Economic Analysis of Legislation for a Renewable Fuels Requirement for Highway Motor Fuels
An Economic Analysis of Legislation for a Renewable Fuels Requirement for Highway Motor Fuels John M. Urbanchuk Executive Vice President AUS Consultants November 2001 EXECUTIVE SUMMARY Congress is considering
More informationU.S. Ethanol Ready For The World Market
U.S. Ethanol Ready For The World Market The United States has plenty of ethanol and is ready and willing to meet foreign market needs. As the U.S. Grains Council (USGC) works with its industry partners
More informationWilliam Piel
Fuel Options Exist for Expanding Gasoline Supplies without processing additional Crude Oil? E1? E2? E8? ETBE? Which use of in Fuel Provides the Highest Market Value? Which use of results in the Most Non-Petroleum
More informationWhat you might have missed Bioenergy Situation & Outlook
What you might have missed Bioenergy Situation & Outlook Ag Lenders Conference David Ripplinger Fall 2018 Record US Corn Ethanol Production Record US Corn Ethanol Exports Expanding US Corn Ethanol Capacity
More informationCrop Value and Volatility in a New Era
Crop Value and Volatility in a New Era Scott Irwin sirwin@illinois.edu University of Illinois The Profitability of Illinois Agriculture: Looking Ahead in Extraordinary Times Prices have changed so much
More informationUSDA Projections of Bioenergy-Related Corn and Soyoil Use for
USDA Projections of Bioenergy-Related Corn and Soyoil Use for 2010-2019 Daniel M. O Brien, Extension Agricultural Economist K-State Research and Extension The United States Department of Agriculture released
More informationDepartment of Legislative Services
Department of Legislative Services Maryland General Assembly 2005 Session SB 740 Senate Bill 740 Budget and Taxation FISCAL AND POLICY NOTE Revised (Senator Middleton, et al.) Environmental Matters Renewable
More informationImpact of Process Economics for Green Energy July 23, 2009
Impact of Process Economics for Green Energy July 23, 2009 Tom Maliszewski Process Engineer dtom.maliszewski@ 800-611-2296 x-86 Chemical and Environmental Technologies Health and Life Sciences Advanced
More informationBiodiesel Industry A Statewide Assessment
University of Nebraska - Lincoln DigitalCommons@University of Nebraska - Lincoln Industrial Agricultural Products Center -- Publications & Information Industrial Agricultural Products Center 8-31-2006
More informationBioFuels Lessons Learned From Georgia
The University of Georgia Center for Agribusiness and Economic Development College of Agricultural and Environmental Sciences BioFuels Lessons Learned From Georgia www.caed.uga.edu John McKissick, George
More informationReducing GHG Emissions Through National Renewable Fuel Standards
Reducing GHG Emissions Through National Renewable Fuel Standards Transportation Research Board 2010 Environment and Energy Conference Robert Larson, USEPA First Renewable Fuel Standards Established by
More informationOil Seeds to Jet Fuels: The Community Connection Cornelia Butler Flora Joe Jakubek Edward Green
Oil Seeds to Jet Fuels: The Community Connection Cornelia Butler Flora Joe Jakubek Edward Green BUT the pressure is for drop-in technology. Anything too innovative, such as hydrogen, would require way
More informationBiofuels Incentives: A Summary of Federal Programs
Biofuels Incentives: A Summary of Federal Programs Brent D. Yacobucci Section Research Manager January 11, 2012 CRS Report for Congress Prepared for Members and Committees of Congress Congressional Research
More informationRenewable Fuels: Overview of market developments in the US and a focus on California
Renewable Fuels: Overview of market developments in the US and a focus on California Cynthia Obadia Cynthia Obadia Consulting Renewable fuel s growth driven by incentives from RFS and LCFS RFS - Federal
More informationUnderstanding the RFS and RINs. Geoff Cooper Renewable Fuels Association August 29, 2018
Understanding the RFS and RINs Geoff Cooper Renewable Fuels Association August 29, 2018 Million Gallons To understand RINs, you must first understand the RFS 36,000 Renewable Fuel Standard (RFS2) Statutory
More informationBiofuels Incentives: A Summary of Federal Programs
University of Nebraska - Lincoln DigitalCommons@University of Nebraska - Lincoln Congressional Research Service Reports Congressional Research Service 2010 Biofuels Incentives: A Summary of Federal Programs
More informationGROWING YOUR BUSINESS WITH BIODIESEL. Copyright 2016 Renewable Energy Group, Inc.
GROWING YOUR BUSINESS WITH BIODIESEL BIODIESEL DEMAND DRIVERS 2 WHAT S DRIVING BIODIESEL DEMAND? RVO Federal and state tax incentives Sustainability 3 WHAT S DRIVING BIODIESEL DEMAND? RVO Revised RVO offers
More informationIMPORTANCE OF THE RENEWABLE FUELS INDUSTRY TO THE ECONOMY OF IOWA
IMPORTANCE OF THE RENEWABLE FUELS INDUSTRY TO THE ECONOMY OF IOWA Prepared for the Iowa Renewable Fuels Association John M. Urbanchuk Technical Director - Environmental Economics January 20, 2012 Cardno
More informationCONTRIBUTION OF THE BIODIESEL INDUSTRY TO THE ECONOMY OF THE UNITED STATES
CONTRIBUTION OF THE BIODIESEL INDUSTRY TO THE ECONOMY OF THE UNITED STATES Prepared for the National Biodiesel Board With Funding Support from the United Soybean Board 1 John M. Urbanchuk Director LECG,
More informationElectric Vehicles: Opportunities and Challenges
Electric Vehicles: Opportunities and Challenges Henry Lee and Alex Clark HKS Energy Policy Seminar Nov. 13, 2017 11/13/2017 HKS Energy Policy Seminar 1 Introduction In 2011, Grant Lovellette and I wrote
More informationUS biofuel Indicators and a changing market dynamic
US biofuel Indicators and a changing market dynamic Seth Meyer AMIS October 1-2, 13, Rome Movement of Ag and Energy Ethanol production and capacity 16 35 Crude oil and maize prices 14 3 billion gallons
More informationOperating Refineries in a High Cost Environment. Options for RFS Compliance. March 20, Baker & O Brien, Inc. All rights reserved.
Operating Refineries in a High Cost Environment Options for RFS Compliance March 2, 217 Baker & O Brien, Inc. All rights reserved. Discussion Points Introduction Renewable Fuels Standard (RFS) Overview
More informationEthanol Industry Perspective on The Renewable Fuel Standard
Ethanol Industry Perspective on The Renewable Fuel Standard NCSL 2013 Legislative Summit Aug. 14, 2013 Geoff Cooper Renewable Fuels Association About the Renewable Fuels Association (RFA) Trade association
More informationEffect of Biodiesel Production on Life-Cycle Greenhouse Gas Emissions and Energy Use for Canada
Effect of Biodiesel Production on Life-Cycle Greenhouse Gas Emissions and Energy Use for Canada Brian G. McConkey 1, Stephen Smith 2, James Dyer 3, Ravinderpal Gil 2, Suren Kulshreshtha 4, Cecil Nagy 4,
More informationBiofuels Industry and Impacts on Agriculture
Biofuels Industry and Impacts on Agriculture Dwight Aakre Farm Management Specialist January 2007 Web Page: http://www.ag.ndsu.nodak.edu/aginfo/farmmgmt/farmmgmt.htm 12-27-06 Some Energy Statistics In
More informationRenewable Fuel Standard
Renewable Fuel Standard Protect Availability of Splash Blending Growing number of oil companies are selling pre-blended E10, and retaining majority of profit Some oil companies have gone to mandated E10
More informationBiomass-based Diesel Policy Options: Larger RFS Requirements and Tax Credit Extension
February 2014 Biomass-based Diesel Policy Options: Larger RFS Requirements and Tax Credit Extension FAPRI-MU Report #01-14 Providing objective analysis for more than 25 years www.fapri.missouri.edu Published
More informationAchieving Energy Security and Greenhouse. Biomass Crop Assistance Program. Madhu Khanna
Achieving Energy Security and Greenhouse Gas Reduction Cost-Effectively: The Biomass Crop Assistance Program Madhu Khanna Professor, Agricultural and Environmental Economics University of Illinois, Urbana-Champaign
More informationThe Energy Independence and Security Act (EISA): Proposed Changes to the Renewable Fuel Standard Program (RFS2)
The Energy Independence and Security Act (EISA): Proposed Changes to the Renewable Fuel Standard Program (RFS2) Presentation to the NAS Biofuels Workshop Madison, WI. June 23-24, 2009 1 Agenda Background
More informationA. U.S. Ethanol Policy. B. U.S. Ethanol Industry Capacity. C. U.S. Ethanol Prices, Costs & Profits. E. Key Ethanol Related Research
U.S. Ethanol Market Outlook Kansas Farm Managers & Rural Appraisers Annual Meeting February 24, 2012 Ethanol Policy & Markets A. U.S. Ethanol Policy B. U.S. Ethanol Industry Capacity C. U.S. Ethanol Prices,
More informationA Symposium Sponsored by The Federal Reserve Bank of Kansas City
A Symposium Sponsored by The Federal Reserve Bank of Kansas City Kansas City, Missouri July 19-20, 2011 Session 2: Overhauling Renewable Energy Markets Introduction Impact of Alternative Biofuels Policies
More informationACE/Biofuels Journal Webinar March 10, 2011
ACE/Biofuels Journal Webinar March 10, 2011 Where We are Today: The Status of the U.S. Ethanol Industry Producing 13.23 Billion Gallons of Ethanol 12.86 Billion Gallons consumed domestically 397 Million
More informationBiofuels: Considerations and Potential
Biofuels: Considerations and Potential Clarks on Univ ersi ty 5 Sep tember 2007 Len a Han se n Rocky Mou ntain Ins titu te Understanding the Goal President Bush s goal Produce 35 billion gallons of alternative
More informationINDIRECT LAND USE CHANGE, LOW CARBON FUEL STANDARDS, & CAP AND TRADE: The Role of Biofuels in Greenhouse Gas Regulation
INDIRECT LAND USE CHANGE, LOW CARBON FUEL STANDARDS, & CAP AND TRADE: The Role of Biofuels in Greenhouse Gas Regulation Matthew Carr Policy Director, Industrial & Environmental Section Biotechnology Industry
More informationUSDA Agricultural Outlook Forum 2007
USDA Agricultural Outlook Forum 2007 EU BIOFUELS POLICY AND EFFECTS ON PRODUCTION, CONSUMPTION AND LAND USE FOR ENERGY CROPS Hilkka Summa Head of Unit for Bioenergy, Biomass, Forestry and Climate Change
More informationUpdate: Estimated GHG Increase from Obama Administration Inaction on the 2014 RFS
Update: Estimated GHG Increase from Obama Administration Inaction on the 2014 The blend wall should not be a consideration for setting the, because the United States is using more transportation fuel in
More informationImpact of Rising Energy Costs on the Food System in Indonesia
Impact of Rising Energy Costs on the Food System in Indonesia Ronnie S. Natawidjaja, Ph.D. Center for Agricultural Policy an Agribusiness Studies Padjadjaran University The Pacific Food System Outlook
More informationBiofuels Incentives: A Summary of Federal Programs
Order Code RL33572 Biofuels Incentives: A Summary of Federal Programs Updated March 18, 2008 Brent D. Yacobucci Specialist in Energy and Environmental Policy Resources, Science, and Industry Division Biofuels
More informationHIDDEN ETHANOL SUBSIDIES IN BRAZIL REVISITED
HIDDEN ETHANOL SUBSIDIES IN BRAZIL REVISITED Professors Troy G. Schmitz, James Seale, and Andrew Schmitz Arizona State University and University of Florida The Economics of Alternative Energy Sources and
More informationMacro economic and Energy Factors Driving the Agricultural Outlook
Macro economic and Energy Factors Driving the Agricultural Outlook Michael Swanson Ph.D. Wells Fargo September 2013 Inter connected Markets Economic growth GDP, Population and Income Currency competition
More informationCONTRIBUTION OF THE RENEWABLE FUELS INDUSTRY TO THE ECONOMY OF IOWA
CONTRIBUTION OF THE RENEWABLE FUELS INDUSTRY TO THE ECONOMY OF IOWA Prepared for the Iowa Renewable Fuels Association John M. Urbanchuk Managing Partner February 26, 2018 Iowa s renewable fuels industry
More informationCreating a Large, Guaranteed Market for Advanced Biofuels Through a Low Carbon Fuel Standard
www.e2.org Creating a Large, Guaranteed Market for Advanced Biofuels Through a Low Carbon Fuel Standard Adopted in April 2009, California s Low Carbon Fuel Standard (LCFS) will guarantee a market of up
More informationThe Outlook for Conventional Biofuels is Brighter Than You Think
The Outlook for Conventional Biofuels is Brighter Than You Think Scott Irwin University of Illinois sirwin@illinois.edu www.farmdoc.illinois.edu http://www.latimes.com/opinion/editorials/la-ed-1206-epa-renewable-fuel-20151205-story.html
More informationFederal And New York Tax Incentives For Alternative Fuels
Federal And New York Tax Incentives For Alternative Fuels NE Sun Grant Regional Feedstock Summit November 13, 2007 Statler Hotel at Cornell University Ithaca, New York 14853 Presented by: Gerald F. Stack
More informationKansas Ethanol 101 January 25, 2016
Renew Kansas (Previously Kansas Association of Ethanol Processors) Kansas Ethanol 101 January 25, 2016 Put a little Kansas in your tank. ethanol-enriched fuel good for your car good for the environment
More informationBiofuels - Opportunities and Challenges
Biofuels - Opportunities and Challenges Low Carbon Transport Investor Event Carbon Trust 11 th May 2009 Greg Archer Managing Director Low Carbon Vehicle Partnership Low Carbon Vehicle Partnership Accelerating
More informationFederal versus State Growth Prospects for US Renewable Fuel Consump;on
Federal versus State Growth Prospects for US Renewable Fuel Consump;on Heather Zhang 1 PRIMA: Award Winning Biofuel Analy;cs Real 5me Daily Weekly Bespoke 2 Philosophy ques;ons or market ques;ons? Who
More informationNatural and Economic Resources Appropriations Subcommittee 20 February W. Steven Burke President and CEO Biofuels Center of North Carolina
Natural and Economic Resources Appropriations Subcommittee 20 February 2013 W. Steven Burke President and CEO Biofuels Center of North Carolina Three definitions: Biofuels Liquid transportation fuels.
More informationEPA and RFS2: Market Impacts of Biofuel Mandate Waiver Options
July 2012 EPA and RFS2: Market Impacts of Biofuel Mandate Waiver Options FAPRI MU Report #04 12 Providing objective analysis for over 25 years www.fapri.missouri.edu Published by the Food and Agricultural
More informationCaltex Australia comments on Carbon Pollution Reduction Scheme White Paper February 2009
Caltex Australia comments on Carbon Pollution Reduction Scheme White Paper February 2009 Upstream Point of Liability - Fuel Tax Package Outline of scheme The Carbon Pollution Reduction Scheme (CPRS) White
More informationWe re Going Global ETHANOL
Technical Notes #38 We re Going Global ETHANOL What is Ethanol? Ethanol is clean-burning, high-octane alcohol-based fuel made by fermenting and distilling starch crops, such as corn or sugar cane. It can
More informationWestport Innovations Inc.
Energy & Environment Perspectives 2008 1 David Demers, CEO, Westport Innovations Inc. 2 Westport Innovations Inc. Recognized as the world leader in gaseous fuels technology (natural gas, hydrogen, LPG,
More informationCalifornia Low Carbon Fuel Standard Status Report. John D. Courtis October 17, 2011
California Low Carbon Fuel Standard Status Report John D. Courtis October 17, 2011 Background CA legislature adopts Global Warming Solutions Act (AB 32) in 2006 Board passes LCFS April 2009 Title 17, CCR,
More informationEnergy Crops and Co-Products in the Region --- What does is mean?
Energy Crops and Co-Products in the Region --- What does is mean? WA/OR Green Pea Association Annual Meeting Elk Lodge Milton-Freewater February 13, 2007 Don Wysocki Extension Soil Scientist Oregon State
More informationBiofuels - Global Situation, Concerns and the Future
Brazilian Association of Vegetable Oil Industries Biofuels - Global Situation, Concerns and the Future International Oilseed Producers Dialogue - IOPD Daniel Furlan Amaral Rio de Janeiro RJ Brazil June
More informationBiofuels Outlook - December 2017
December 19, 2017 Biofuels Outlook - December 2017 Biofuels Outlook - December 2017 Despite only a small change in renewable fuel volume requirements for 2018, RIN prices will rise in 2018. The absence
More informationThe Rapidly Growing Biofuels Industry How Will It Affect Animal Agriculture? Bryan I. Fancher, Ph.D. Vice-President Global Technical Operations
The Rapidly Growing Biofuels Industry How Will It Affect Animal Agriculture? Bryan I. Fancher, Ph.D. Vice-President Global Technical Operations Agenda Biofuels definition Basis of industry momentum Size
More informationThe U.S. Renewable Fuel Standard Background, Controversies, & Reform, or, This Crisis, or the Next?
The U.S. Renewable Fuel Standard Background, Controversies, & Reform, or, This Crisis, or the Next? Argus Global Gasoline Conference May 8-9, 2018 London, UK Max Pyziur Energy Policy Research Foundation,
More informationBiodiesel. Kimmo Rahkamo Executive Vice President
Biodiesel Kimmo Rahkamo Executive Vice President Biofuels agenda is driven by three elements Climate change Security of supply Biofuels set to gain considerable share in transportation fuels market Domestic
More informationBRAZILIAN PERSPECTIVES ON BIOENERGY TRADE AND SUSTAINABLE DEVELOPMENT
BRAZILIAN PERSPECTIVES ON BIOENERGY TRADE AND SUSTAINABLE DEVELOPMENT market access issues, implications of certification on exports and production, social and environmental issues. Sergio C. Trindade
More informationRenewable Energy & Climate Change Newsletter
Renewable Energy & Climate Change Newsletter in this issue... Feedstocks Used for U.S. Biodiesel: How Important is Corn Oil?...Page 1 Corn Price Squeeze Emerging for Corn Farmers...Page 6 prices, profitability
More informationAt prices over $100/barrel, the U.S. will pay more than $800 billion for its oil supply in 2008, and the world as a whole will pay $3.2 trillion.
Biofuels in Oregon: Why, What, Where, and other Questions Prepared by the Oregon Department of Agriculture Brent Searle, Department Economist Stephanie Page, Renewable Energy Specialist October 17, 2008
More informationImplied RIN Prices for E85 Expansion and the Effects of a Steeper Blend Wall
Implied RIN Prices for E85 Expansion and the Effects of a Steeper Blend Wall April 2013 FAPRI-MU Report #03-13 Providing objective analysis for more than 25 years www.fapri.missouri.edu Published by the
More informationImpact of biofuel policies on markets and trade. Trade and Markets Division
Impact of biofuel policies on markets and trade World oil prices and estimated ethanol costs of production from maize and sugar US cents per litre 6 5 4 3 2 1 1995M1 1997M1 1999M1 21M1 23M1 25M1 27M1 Ethanol
More informationThank you, Chairman Shimkus and Ranking Member Tonko. I appreciate the opportunity to
Thank you, Chairman Shimkus and Ranking Member Tonko. I appreciate the opportunity to testify today on behalf of the National Corn Growers Association (NCGA). NCGA represents nearly 40,000 dues-paying
More informationBiofuels: crime against humanity!?
Biofuels: crime against humanity!? Trade and sustainability issues Sadeq Z. Bigdeli World Trade Institute, Berne Model WTO 2008, University of St. Gallen 1 Outline What are biofuels? Why biofuels? Tariff
More informationBiofuels and WTO: Legal and Policy Issues
Biofuels and WTO: Legal and Policy Issues by Dr Melaku Geboye Desta CEPMLP, University of Dundee World Trade Forum Berne, 21 September 2007 1 Structure Background: what are biofuels? Drivers: The environment
More informationComparison of California Low Carbon Fuel Standard with Bush s 20 in 10 Alternative Fuel Standard
Comparison of California Low Carbon Fuel Standard with Bush s 20 in 10 Alternative Fuel Standard Roland J. Hwang Vehicles Policy Director Air & Energy Program Natural Resources Defense Council rhwang@nrdc.org
More informationState Policy Trends in Biomass
State Policy Trends in Biomass Biomass 2010 March 30, 2010 Glen Andersen National lconference of State Legislatures Overview of State Policies Renewable Fuel Standards Renewable Portfolio Standards Reducing/Eliminating
More informationDepartment of Energy Analyses in Support of the EPA Evaluation of Waivers of the Renewable Fuel Standard November 2012
Department of Energy Analyses in Support of the EPA Evaluation of Waivers of the Renewable Fuel Standard November 2012 Ethanol Demand Curve for 2012 and 2013 In support of EPA analyses of the 2012 RFS
More informationState of the States NATIONAL BIODIESEL BOARD. Jacobsen Conference. Shelby Neal. May 24, 2018 Chicago, IL
NATIONAL BIODIESEL BOARD State of the States Jacobsen Conference May 24, 2018 Chicago, IL Shelby Neal Director of State Governmental Affairs National Biodiesel Board 1 NATIONAL BIODIESEL BOARD Represent
More informationEverything Ethanol -Porter Five Force Model
Everything Ethanol -Porter Five Force Model Greg, Greg, Devin, Derek 1 There are more farms than ethanol plants, however, farmers form cooperatives which gives them bargaining leverage. In U.S., at this
More informationEconomic Parameters for Corn Ethanol and Biodiesel Production. Vernon R. Eidman 1
Economic Parameters for Corn Ethanol and Biodiesel Production By Vernon R. Eidman 1 Ethanol and biodiesel production in the U.S. have been increasing rapidly over the past two years. Ethanol production
More informationSenate Standing Committees on Economics 27 June 2014 PO Box 6100 Parliament House CANBERRA ACT 2600 By
Senate Standing Committees on Economics 27 June 2014 PO Box 6100 Parliament House CANBERRA ACT 2600 By email: economics.sen@aph.gov.au Submission: Inquiry into Fuel Indexation (Road Funding) Bill 2014
More informationCONTRIBUTION OF THE RENEWABLE FUELS INDUSTRY TO THE ECONOMY OF IOWA
CONTRIBUTION OF THE RENEWABLE FUELS INDUSTRY TO THE ECONOMY OF IOWA Prepared for the Iowa Renewable Fuels Association John M. Urbanchuk Managing Partner January 26, 2017 The U.S. ethanol industry experienced
More informationGrowing Your Own Fuel
Growing Your Own Fuel Feasibility of Mobile Processing Chris Callahan Callahan Engineering, PLLC www.vsjf.org www.callahan.eng.pro Funded by The High Meadows Fund and The Vermont Sustainable Agriculture
More informationSecrets of Renewable Energy: The Real Truth. Robert B. Baker Freeman Mathis & Gary, LLP
Secrets of Renewable Energy: The Real Truth Robert B. Baker Freeman Mathis & Gary, LLP bbaker@fmglaw.com Renewable energy options are more cost competitive with traditional forms of generation when looking
More informationFinancial Statements Matti Lievonen, President & CEO 7 February 2017
Financial Statements 2016 Matti Lievonen, President & CEO Agenda 1 2 3 4 Year 2016 Financials 2016 Segment reviews Current topics 5 Appendix 2 Disclaimer The following information contains, or may be deemed
More informationThe California Low Carbon Fuel Standard. John D. Courtis August 10-12, 2009
The California Low Carbon Fuel Standard John D. Courtis August 10-12, 2009 Why LCFS GHG Emissions (MMTCO2e) Large GHG Reductions Required to Meet 2020 Target and 2050 Goal 700 600 500 400 300 200 100 0-169
More informationFOOD, FUEL AND FORESTS BIOFUEL TRENDS IN LATIN AMERICA
FOOD, FUEL AND FORESTS IPC - ALARN SEMINAR ON CLIMATE CHANGE, AGRICULTURE AND TRADE BIOFUEL TRENDS IN LATIN AMERICA Regúnaga ; Nogueira - Moreira; Foster - Valdéz BOGOR, May 2008 STRATEGIES: MAIN DRIVERS
More informationBiofuel Taxes, Subsidies, and Mandates: Impacts on US and Brazilian Markets
Iowa State University Digital Repository @ Iowa State University CARD Staff Reports CARD Reports and Working Papers 5-22-2013 Biofuel Taxes, Subsidies, and Mandates: Impacts on US and Brazilian Markets
More informationOverview. Background and Context Ethanol Policies and Policy Rumblings. Assessment of the prospects for trade and trade disputes
Overview Background and Context Ethanol Policies and Policy Rumblings Range of Policy Instruments Rationales for Government Action Emerging Criticisms Assessment of the prospects for trade and trade disputes
More informationGlobal biofuel growth Implications for agricultural markets and policies
Global biofuel growth Implications for agricultural markets and policies Martin von Lampe Trade and Agriculture Directorate OECD Regional Meeting on Agricultural Policy Reform Bucharest, Romania 24-26
More information