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Structural change in the biofuels era

Author

Listed:
  • Jayson Beckman
  • Thomas Hertel
  • Farzad Taheripour
  • Wallace Tyner

Abstract

The onset of large-scale biofuel production has helped lead to a structural change in agricultural markets, tightening the linkages between agricultural and energy commodities. The USA and EU have aggressive mandates in place, which could further strengthen the linkages. The imposition of such mandates reduces the susceptibility of agricultural markets to energy volatility; but increases the supply-side impacts. Feedstock-specific mandates insulate the US biofuels from low oil prices; however, EU biofuel use remains linked with oil prices through aggregate fuel use. Overall, US markets are more vulnerable than the EU to supply-side shocks due to their product-specific mandates. , Oxford University Press.

Suggested Citation

  • Jayson Beckman & Thomas Hertel & Farzad Taheripour & Wallace Tyner, 2012. "Structural change in the biofuels era," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 39(1), pages 137-156, February.
    • Handle: RePEc:oup:erevae:v:39:y:2012:i:1:p:137-156
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    File URL: http://hdl.handle.net/10.1093/erae/jbr041
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    Citations

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    Cited by:

    1. Moschini, GianCarlo & Cui, Jingbo & Lapan, Harvey E., 2012. "Economics of Biofuels: An Overview of Policies, Impacts and Prospects," Bio-based and Applied Economics Journal, Italian Association of Agricultural and Applied Economics (AIEAA), vol. 1(3), pages 1-28, December.
    2. Karel Janda & Ladislav Kristoufek, 2019. "The relationship between fuel and food prices: Methods, outcomes, and lessons for commodity price risk management," CAMA Working Papers 2019-20, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    3. Rada, Nicholas E. & Rosen, Stacey & Beckman, Jayson F., 2013. "Evaluating Agricultural Productivity’s Impact on Food Security," 2013: Productivity and Its Impacts on Global Trade, June 2-4, 2013. Seville, Spain 152265, International Agricultural Trade Research Consortium.
    4. Jayson Beckman & Carmen Estrades & Angel Aguiar, 2019. "Export taxes, food prices and poverty: a global CGE evaluation," Food Security: The Science, Sociology and Economics of Food Production and Access to Food, Springer;The International Society for Plant Pathology, vol. 11(1), pages 233-247, February.
    5. Junker, Franziska & Wolf, Verena & Marquardt, Sandra & Ledebur, Oliver, 2015. "Changes to EU Biofuel Policy- Turmoil on Feedstock Markets," 2015 Conference, August 9-14, 2015, Milan, Italy 211819, International Association of Agricultural Economists.
    6. Karel Janda & Ladislav Krištoufek, 2019. "The Relationship Between Fuel and Food Prices: Methods and Outcomes," Annual Review of Resource Economics, Annual Reviews, vol. 11(1), pages 195-216, October.
    7. Karel Janda & Ladislav Krištoufek & Barbora Schererová & David Zilberman, 2021. "Price transmission in biofuel-related global agricultural networks," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 67(10), pages 399-408.
    8. Peri, Massimo & Baldi, Lucia, 2013. "The effect of biofuel policies on feedstock market: Empirical evidence for rapeseed oil prices in EU," Resource and Energy Economics, Elsevier, vol. 35(1), pages 18-37.
    9. de Menezes, Taís C. & Countryman, Amanda M. & Hagerman, Amy D. & Galvão de Miranda, Sílvia H., . "Economy-Wide Effects of Bovine Spongiform Encephalopathy in Brazil," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 49(3).
    10. Beckman, Jayson & Burfisher, Mary & Mitchell, Lorraine & Arita, Shawn, 2021. "Hidden obstacles to trade: The case of the EU’s Ban on beef hormones," Journal of Policy Modeling, Elsevier, vol. 43(6), pages 1332-1343.
    11. Remston Martis & Amani Al-Othman & Muhammad Tawalbeh & Malek Alkasrawi, 2020. "Energy and Economic Analysis of Date Palm Biomass Feedstock for Biofuel Production in UAE: Pyrolysis, Gasification and Fermentation," Energies, MDPI, vol. 13(22), pages 1-34, November.
    12. Koirala, Krishna H. & Mishra, Ashok K. & D'Antoni, Jeremy M. & Mehlhorn, Joey E., 2015. "Energy prices and agricultural commodity prices: Testing correlation using copulas method," Energy, Elsevier, vol. 81(C), pages 430-436.
    13. Juan P. Sesmero & Richard K. Perrin & Lilyan E. Fulginiti, 2016. "A Variable Cost Function for Corn Ethanol Plants in the Midwest," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 64(3), pages 565-587, September.
    14. Cui, Jingbo & Martin, Jeremy I., 2017. "Impacts of US biodiesel mandates on world vegetable oil markets," Energy Economics, Elsevier, vol. 65(C), pages 148-160.

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