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The economy-wide effects in the United States of replacing crude petroleum with biomass

Dixon, Peter, Osborne, Stefan and Rimmer, Maureen T (2007) The economy-wide effects in the United States of replacing crude petroleum with biomass. Energy and Environment, 18 (6). pp. 709-722. ISSN 0958-305X

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Abstract

Part of President Bush's energy policy is to encourage research aimed at reducing the cost of biomass-based motor fuels to become competitive with petroleum-based fuels. We use a dynamic, CGE model to investigate the economy-wide implications of successful implementation of this policy. We find in the long-run, 2020, that the U. S. would experience significant benefits arising from: (1) substitution of biomass whose price is likely to fall in the long-run for crude petroleum whose price is likely to rise; (2) reduction in the world price of crude petroleum; (3) increased employment; and (4) higher export prices.

Item Type: Article
Uncontrolled Keywords: biomass-based fuels, petroleum-based fuels, CGE modeling, energy policy
Subjects: FOR Classification > 1402 Applied Economics
Faculty/School/Research Centre/Department > College of Business
Faculty/School/Research Centre/Department > Centre of Policy Studies (CoPS)
Depositing User: Ms Julie Gardner
Date Deposited: 09 Apr 2014 07:48
Last Modified: 04 Oct 2015 23:54
URI: http://vuir.vu.edu.au/id/eprint/24636
DOI: https://doi.org/10.1260/095830507782088631
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Citations in Scopus: 23 - View on Scopus

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