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Three Essays On Biofuels, Drought, Livestock, And The Environment, Sunil P. Dhoubhadel
Three Essays On Biofuels, Drought, Livestock, And The Environment, Sunil P. Dhoubhadel
Department of Agricultural Economics: Dissertations, Theses, and Student Research
This dissertation consists of three essays. The first essay examines the impact of the 2012 drought and the biofuels mandate on the U.S. grain and livestock markets. A stochastic equilibrium displacement model is used to analyze the impact on eight commodity markets viz. beef, pork, poultry, corn, distillers’ grain (DG), soybean, soymeal, and ethanol. Among the eight markets, corn and beef are found to be the most vulnerable to drought. The use of Renewable Identification Number (RIN) credits as an instrument to mitigate the impact of drought has limited effectiveness. A mandate waiver of about 23% is required to fully …