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| 1 |
ID:
098569
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| Publication |
2010.
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| Summary/Abstract |
We evaluated several variants of a variable biofuel subsidy and compared them with the fixed subsidy and Renewable Fuel Standard using two different modeling approaches. First we used a partial equilibrium model encompassing crude oil, gasoline, ethanol, corn, and ethanol by-products. Second, we used a stochastic simulation model of a prototypical ethanol plant. From the partial equilibrium analysis, it appears the variable subsidy provides a safety net for ethanol producers when oil prices are low; yet, it does not put undue pressure on corn prices when oil prices are high. At high oil prices, the level of ethanol production is driven by market forces. From the plant level stochastic analysis, essentially the same conclusions are reached. As with the fixed subsidy, the variable subsidy can increase the net present value (NPV) sufficiently to encourage investment, but with lower risk for the producer, lower probability of a loss from the investment, and often lower expected cost to government. Finally, in the US, the ethanol industry is up against a blending limit called the blend wall. If the blending wall remains in place and no way around it is found, it does not matter much what other policy options are used.
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| 2 |
ID:
103452
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| Publication |
2011.
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| Summary/Abstract |
Plug-in hybrid electric vehicles (PHEVs) will soon start to be introduced into the transportation sector, thereby raising a host of issues related to their use, adoption and effects on the electricity sector. Their introduction has the potential to significantly reduce carbon emissions from the transportation sector, which has led to government policies aimed at easing their introduction. If their widespread adoption is set as a target it is imperative to consider the effects of existing policies that may increase or decrease their adoption rate. In this study, we present a micro level electricity demand model that can gauge the effects of PHEVs on household electricity consumption and the subsequent economic attractiveness of the vehicles. We show that the electricity pricing policy available to the consumer is a very significant factor in the economic competitiveness of PHEVs. Further analysis shows that the increasing tier electricity pricing system used in California will substantially blunt adoption of PHEVs in the state; and time of use electricity pricing will render PHEVs more economically attractive in any state.
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| 3 |
ID:
171411
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| Summary/Abstract |
In a recent article, Santeramo and Searle (2019: Henceforth San-Sea) argued that the linkages between the soy oil and palm oil markets and their land use consequences could negatively affect the climate performance of the US Renewable Fuel Standard (RFS) and California's Low Fuel Standard. To support their arguments, San-Sea estimated the own and cross-price elasticities for supplies of soy and palm oils in the US. These authors refer to a valid point that induced land use changes may negatively impact emissions savings due to biofuels. However, their estimated elasticities provide no new insight on this issue. In addition, their approach, findings, analysis, and conclusion are subject to several deficiencies and limitations. These authors provide no new evidence for the link between biofuel production and land use change due to substitution among vegetable oils. In what follows, we reflect on some important facts and concerns.
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