Economic Potential of Biomass Based Fuels for Greenhouse Gas Emission Mitigation
AbstractUse of biofuels diminishes fossil fuelcombustion thereby also reducing net greenhousegas emissions. However, subsidies are neededto make agricultural biofuel productioneconomically feasible. To explore the economicpotential of biofuels in a greenhouse gasmitigation market, we incorporate data onproduction and biofuel processing for thedesignated energy crops switchgrass, hybridpoplar, and willow in an U.S. AgriculturalSector Model along with data on traditionalcrop-livestock production and processing, andafforestation of cropland. Net emissioncoefficients on all included agriculturalpractices are estimated through crop growthsimulation models or taken from the literature. Potential emission mitigation policies ormarkets are simulated via hypothetical carbonprices. At each carbon price level, theAgricultural Sector Model computes the newmarket equilibrium, revealing agriculturalcommodity prices, regionally specificproduction, input use, and welfare levels,environmental impacts, and adoption ofalternative management practices such asbiofuel production. Results indicate no rolefor biofuels below carbon prices of $40 perton of carbon equivalent. At these incentivelevels, emission reductions via reduced soiltillage and afforestation are more costefficient. For carbon prices above $70,biofuels dominate all other agriculturalmitigation strategies. Copyright Kluwer Academic Publishers 2003
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Bibliographic InfoArticle provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.
Volume (Year): 24 (2003)
Issue (Month): 4 (April)
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Web page: http://www.springerlink.com/link.asp?id=100263
agricultural sector model; alternative energy; biofuel economics; biomass power plants; greenhouse gas emission mitigation; short rotation woody crops; switchgrass;
Other versions of this item:
- Uwe A. Schneider & Bruce A. McCarl, 2001. "Economic Potential of Biomass-Based Fuels for Greenhouse Gas Emission Mitigation," Center for Agricultural and Rural Development (CARD) Publications 01-wp280, Center for Agricultural and Rural Development (CARD) at Iowa State University.
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