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The Impact Of U.S. Biofuel Mandate Waiver Decisions On World Ethanol And Biodiesel Markets

Author

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  • Debnath, Deepayan
  • Binfield, Julian C.R.
  • Whistance, Jarrett

Abstract

Recently, the Environmental Protection Agency (EPA) proposed biofuel requirements for 2014 that suggest the use of ethanol would probably be lower than the volume previously envisioned in the Energy Independence and Security Act (EISA) of 2007. The impact of waiving down the mandate in the U.S., and shrinking the “advanced gap” will mean that both the U.S. and Brazil will export more to other countries. Given the flexibility the EPA has for setting policy, we analyze the impact of two alternative scenarios for mandate waivers on the U.S. domestic biofuel market and its implications for the world ethanol and biodiesel market: (1) overall mandate is waived down to a level which preserves the “advanced gap” at the levels envisioned in the RFS2; (2) overall mandate is achieved by expanding the biodiesel mandate is expanded from 1.28 billion gallons to 1.8 billion gallons. Increasing the advanced gap leads to both an increase in imports, but also an increase in exports of ethanol for the U.S., driven by the fact that the U.S. discriminates on the basis of feedstock where Brazil does not.

Suggested Citation

  • Debnath, Deepayan & Binfield, Julian C.R. & Whistance, Jarrett, 2014. "The Impact Of U.S. Biofuel Mandate Waiver Decisions On World Ethanol And Biodiesel Markets," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 173301, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea14:173301
    DOI: 10.22004/ag.econ.173301
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    File URL: https://ageconsearch.umn.edu/record/173301/files/AAEA_Biofuels_2014.pdf
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    References listed on IDEAS

    as
    1. Whistance, Jarrett & Thompson, Wyatt & Meyer, Seth, 2014. "The EPA Add-Up RFS and the Biodiesel Blenders Tax Credit," farmdoc daily, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics, vol. 4, March.
    2. Unknown, 2014. "Department Publications 2013," Publications Lists 206935, University of Minnesota, Department of Applied Economics.
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    Cited by:

    1. Araujo Enciso, Sergio René & Fellmann, Thomas & Pérez Dominguez, Ignacio & Santini, Fabien, 2016. "Abolishing biofuel policies: Possible impacts on agricultural price levels, price variability and global food security," Food Policy, Elsevier, vol. 61(C), pages 9-26.

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    Keywords

    Demand and Price Analysis; International Relations/Trade; Resource /Energy Economics and Policy;
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