Abstract
This study evaluates the global economic effects of the renewable fuel standards under the USA Energy Independence and Security Act of 2007 (RFS2) focusing on the advanced biofuel targets. Three scenarios of the implementation of the RFS2 policy were simulated. Under the scenario that closely follows the current mandates, the global gross domestic product (GDP) increased by 0.21 percent in 2022. The GDP increased by 0.8 percent in the USA, whereas the effect on the rest of the world (ROW) was largely neutral at 0.02 percent. These positive economic effects are associated with the production of cellulosic ethanol from mature biochemical and thermochemical technologies and provide a basis for incentives to overcome cost and other barriers to the greater use of advanced biofuels in the USA. Future research is needed to compare the effects of cellulosic ethanol with those of other advanced biofuels among other refinements.
Original language | Undefined/Unknown |
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Title of host publication | ABSTRACTS OF PAPERS OF THE AMERICAN CHEMICAL SOCIETY |
Volume | 244 |
State | Published - Aug 19 2012 |
Event | The 244th ACS National Meeting & Exposition - Philadelphia, United States Duration: Aug 19 2012 → Aug 23 2012 |
Conference
Conference | The 244th ACS National Meeting & Exposition |
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Country/Territory | United States |
City | Philadelphia |
Period | 08/19/12 → 08/23/12 |