Evaluating the economic benefits of the advanced biofuels targets under the RFS2

Gbadebo Oladosu, Keith Kline, Paul Leiby, Rocio Uria-Martinez, Maggie Davis, Virginia Dale, Mark Downing, Laurence Eaton

Research output: Chapter in Book/Report/Conference proceedingConference contribution

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 languageUndefined/Unknown
Title of host publicationABSTRACTS OF PAPERS OF THE AMERICAN CHEMICAL SOCIETY
Volume244
StatePublished - Aug 19 2012
EventThe 244th ACS National Meeting & Exposition - Philadelphia, United States
Duration: Aug 19 2012Aug 23 2012

Conference

ConferenceThe 244th ACS National Meeting & Exposition
Country/TerritoryUnited States
CityPhiladelphia
Period08/19/1208/23/12

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