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Incentives Matter: Assessing Biofuel Policies in the South

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  • Miller, J. Corey
  • Coble, Keith H.

Abstract

As a result of the increase in the real cost of fossil fuel-based energy in recent years, federal and state governments have taken a more active role in energy policy by creating incentives to develop alternative sources of energy, including biofuels. However, policymakers often become focused on the specific type of energy and not the energy services consumers ultimately value. The lack of recognition of energy as a commodity results in policies that ignore the characteristics of the associated markets: easy entry and exit, no barriers to entry, and sensitivity to changes in supply and demand. Consequently, energy industries may fail to arise because entrepreneurs must be able to account for all costs and earn—at a minimum—a competitive return on the investment. This article evaluates the options available to policymakers related to biofuels, which are of particular concern to the South, and includes an assessment of the knowledge base on which policy decisions are made.

Suggested Citation

  • Miller, J. Corey & Coble, Keith H., 2011. "Incentives Matter: Assessing Biofuel Policies in the South," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 43(3), pages 1-9, August.
    • Handle: RePEc:ags:joaaec:113534
    DOI: 10.22004/ag.econ.113534
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    References listed on IDEAS

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    1. Haque, Mohua & Epplin, Francis M., 2010. "Switchgrass to Ethanol: A Field to Fuel Approach," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 61294, Agricultural and Applied Economics Association.
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    Cited by:

    1. Allan P. Bacho & Olga I. Murova, 2017. "Financial Performance Analysis of Corn-based Ethanol Enterprises in the U.S," Business and Economic Research, Macrothink Institute, vol. 7(1), pages 242-260, June.

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    More about this item

    Keywords

    Resource /Energy Economics and Policy;

    JEL classification:

    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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