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Full-Text Articles in Agriculture
Uncertainty, Irreversibility, And Investment In Secondgeneration Biofuels, Tanner Joseph Mccarty
Uncertainty, Irreversibility, And Investment In Secondgeneration Biofuels, Tanner Joseph Mccarty
Open Access Theses
The present study formalizes and quantifies the importance of uncertainty for investment in a corn-stover based cellulosic biofuel plant. Using a real options model we recover prices of gasoline that would trigger entry into the market and calculate the portion of that entry trigger price required to cover cost and the portion that corresponds to risk premium. We then discuss the effect of managerial flexibility on the entry risk premium and the prices of gasoline that would trigger mothballing, reactivation, and exit. Results show that the risk premium required by plants to enter the second-generation biofuel market is likely to …
A Spatially Explicit Watershed Scale Optimization Of Cellulosic Biofuels Production, Jingyu Song
A Spatially Explicit Watershed Scale Optimization Of Cellulosic Biofuels Production, Jingyu Song
Open Access Theses
Producing biofuels from energy crops is one such alternative. They can result in relatively lower greenhouse gas emissions compared to traditional energy sources. Up to now, corn grain is the most researched energy crop. Cellulosic perennial crops such as switchgrass, miscanthus and fast growing trees are also promising energy crops and are expected to help with the energy supply. The 2007 Renewable Fuel Standard requires 16 billion gallons of a total of 36 billion gallons of renewable fuels to be cellulosic biofuels by 2022. Many studies are being done to evaluate costs and feasibility of different potential feedstocks and the …