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Washington Biofuel Feedstock Supply under Price Uncertainty

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  • Zheng, Qiujie
  • Shumway, C. Richard

Abstract

Biofuels, as alternative transportation fuels, are now being used globally. Taking advantage of in-state feedstock supply is an efficient way to stimulate in-state biofuel industries and the local economy. This paper uses the mean-variance model of utility maximization to estimate supply equations for major biofuel feedstock crops in Washington. We consider price risk, examine the comparative statics results of the model, and use the results to draw important decision-making implications for Washington farmers who are considering production of biofuel feedstocks. Of three potential feedstock crops, only one shows immediate promise in Washington.

Suggested Citation

  • Zheng, Qiujie & Shumway, C. Richard, 2008. "Washington Biofuel Feedstock Supply under Price Uncertainty," 2008 Annual Meeting, June 23-24, 2008, Big Sky, Montana 42304, Western Agricultural Economics Association.
    • Handle: RePEc:ags:waeabi:42304
    DOI: 10.22004/ag.econ.42304
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    Keywords

    Crop Production/Industries; Production Economics; Risk and Uncertainty;
    All these keywords.

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