Agriculture Commons^™

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 …

Field To Flight: A Techno-Economic Analysis Of Stover To Aviation Biofuels Supply Chain, Amanda C. Bittner

Open Access Theses

Greenhouse gas emissions have been a growing concern. The transportation sector contributes to one-third of GHG emissions in the United States from fossil fuel burning. The Renewable Fuel Standard set a requirement for 16 billion gallons (ethanol equivalent) of cellulosic biofuels to be used in the market. Aviation biofuels can help to meet both of these problems as well as improve U.S. energy security.

Investment in the biofuel industry carries a lot of risk. The biofuel industry is run by the private sector, but can be incentivized by government. Cellulosic biofuels carry even more risk than first generation biofuels, because …

Determinants Of Energy Efficiency Across Countries, Guolin Yao

Open Access Theses

With economic development, environmental concerns become more important. Economies cannot be developed without energy consumption, which is the major source of greenhouse gas emissions. Higher energy efficiency is one means of reducing emissions, but what determines energy efficiency?

In this research we attempt to find answers to this question by using cross-sectional country data; that is, we examine a wide range of possible determinants of energy efficiency at the country level in an attempt to find the most important causal factors. All countries are divided into three income groups: high-income countries, middle-income countries, and low-income countries. Energy intensity is used …