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

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.

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