Effects of Increased Biofuels on the U.S. Economy in 2022
Author | : Mark Gehlhar |
Publisher | : DIANE Publishing |
Total Pages | : 36 |
Release | : 2011-04 |
ISBN-10 | : 9781437941821 |
ISBN-13 | : 1437941826 |
Rating | : 4/5 (21 Downloads) |
Download or read book Effects of Increased Biofuels on the U.S. Economy in 2022 written by Mark Gehlhar and published by DIANE Publishing. This book was released on 2011-04 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Achieving greater energy security by reducing dependence on foreign petroleum is a goal of U.S. energy policy. The Energy Independence and Security Act calls for a Renewable Fuel Standard (RFS-2), which mandates that the U.S. increase the volume of biofuel that is blended into transportation fuel from 9 to 36 billion gallons from 2008 to 2022. This report examines how meeting the RFS-2 would affect various components of the U.S. economy. If biofuel production advances with cost-reducing technology, and petroleum prices continue to rise as projected, the RFS-2 could provide economywide benefits. However, the actual level of benefits depends on future oil prices and whether tax credits are retained. Illus. A print on demand publication.