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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, Foundation for the European Review of Agricultural Economics, 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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    Cited by:

    1. Rada, Nicholas E. & Rosen, Stacey & Beckman, Jayson F., 2013. "Evaluating Agricultural Productivity’s Impact on Food Security," Proceedings Issues, 2013: Productivity and Its Impacts on Global Trade, June 2-4, 2013. Seville, Spain 152265, International Agricultural Trade Research Consortium.
    2. Moschini, GianCarlo & Cui, Jingbo & Lapan, Harvey E., 0. "Economics of Biofuels: An Overview of Policies, Impacts and Prospects," Bio-based and Applied Economics Journal, Italian Association of Agricultural and Applied Economics (AIEAA), issue 3.
    3. 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.
    4. 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.
    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. 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.
    7. repec:eee:eneeco:v:65:y:2017:i:c:p:148-160 is not listed on IDEAS

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