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Social and Behavioral Sciences Commons

Open Access. Powered by Scholars. Published by Universities.®

2007

Oil, Gas, and Energy

CARD Staff Reports

Articles 1 - 1 of 1

Full-Text Articles in Social and Behavioral Sciences

Emerging Biofuels: Outlook Of Effects On U.S. Grain, Oilseed, And Livestock Markets, Simla Tokgoz, Amani E. Elobeid, Jacinto F. Fabiosa, Dermot J. Hayes, Bruce A. Babcock, Tun-Hsiang (Edward) Yu, Fengxia Dong, Chad E. Hart, John C. Beghin Jul 2007

Emerging Biofuels: Outlook Of Effects On U.S. Grain, Oilseed, And Livestock Markets, Simla Tokgoz, Amani E. Elobeid, Jacinto F. Fabiosa, Dermot J. Hayes, Bruce A. Babcock, Tun-Hsiang (Edward) Yu, Fengxia Dong, Chad E. Hart, John C. Beghin

CARD Staff Reports

Projections of U.S. ethanol production and its impacts on planted acreage, crop prices, livestock production and prices, trade, and retail food costs are presented under the assumption that current tax credits and trade policies are maintained. The projections were made using a multi-product, multi-country deterministic partial equilibrium model. The impacts of higher oil prices, a drought combined with an ethanol mandate, and removal of land from the Conservation Reserve Program (CRP) relative to baseline projections are also presented. The results indicate that expanded U.S. ethanol production will cause long-run crop prices to increase. In response to higher feed ...