Project description

After defining biofuels and identifying patterns of production, consumption and trade, several central issues on the economics and business of biofuels are addressed. These include an assessment of how effective biofuel policies are in meeting the various political goals, how biofuel policies established the crop-energy price link and hence the food-fuel trade-off, the unique contradictory and self-defeating effects of effects of combining mandates with different subsidies, the various surprising economic welfare effects of biofuel policies; and the various inconsistencies associated with binary sustainability standards, induced land use change and carbon leakages. The course will take a close look at the various factors that have created the rise of the biofuel industry and how the structure of crude oil refining, blending and retailing have consequently changed.

Project aims

Project outcome