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Implications Of A Renewable Fuels Standard
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Book Synopsis Renewable Fuel Standard by : National Research Council
Download or read book Renewable Fuel Standard written by National Research Council and published by National Academies Press. This book was released on 2012-01-29 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the United States, we have come to depend on plentiful and inexpensive energy to support our economy and lifestyles. In recent years, many questions have been raised regarding the sustainability of our current pattern of high consumption of nonrenewable energy and its environmental consequences. Further, because the United States imports about 55 percent of the nation's consumption of crude oil, there are additional concerns about the security of supply. Hence, efforts are being made to find alternatives to our current pathway, including greater energy efficiency and use of energy sources that could lower greenhouse gas (GHG) emissions such as nuclear and renewable sources, including solar, wind, geothermal, and biofuels. The United States has a long history with biofuels and the nation is on a course charted to achieve a substantial increase in biofuels. Renewable Fuel Standard evaluates the economic and environmental consequences of increasing biofuels production as a result of Renewable Fuels Standard, as amended by EISA (RFS2). The report describes biofuels produced in 2010 and those projected to be produced and consumed by 2022, reviews model projections and other estimates of the relative impact on the prices of land, and discusses the potential environmental harm and benefits of biofuels production and the barriers to achieving the RFS2 consumption mandate. Policy makers, investors, leaders in the transportation sector, and others with concerns for the environment, economy, and energy security can rely on the recommendations provided in this report.
Book Synopsis Implications of a Renewable Fuels Standard by : Ted Monoson
Download or read book Implications of a Renewable Fuels Standard written by Ted Monoson and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: During the past 10 years, ethanol production in the United States has grown exponentially. From 2000 to 2009 U.S. ethanol production increased from 1.6 billion gallons annually to 10.8 billion gallons annually. In 2010, U.S ethanol production increased by 23 percent from 2009 to 13.23 billion gallons. The increase in ethanol production was due to lawmakers reacting to skyrocketing oil prices by implementing a Renewable Fuels Standard (RFS) in 2005 and expanding the RFS in 2007. The RFS requires the use of specified amounts of biofuels, such as ethanol, through the year 2022. The creation of the RFS represented a step beyond lawmakers' usual policy of using the tax code to promote ethanol production. There is a long history of encouraging ethanol production by using the tax code, but the implementation of a biofuels mandate is new and therefore there is not a great deal of research on the effects of such a policy. This study analyzes U.S. oil, unleaded gasoline, corn and ethanol prices dating back to 1985 to determine the impact that the RFS has had on corn prices. The key question answered is whether the creation and expansion of the RFS has brought the instability of the oil market into the corn market. The prices that an ethanol plant in western Kansas paid for the grain it used to produce ethanol and the price that the plant received for the ethanol that it produced are also analyzed. The plant began operation in January 2004, so it is possible to analyze the grain and ethanol prices both before and after the implementation and expansion of the RFS. To study the impact of the RFS creation and expansion, the prices were analyzed to see if there was an increase in the correlation after the creation and expansion of the RFS. Regression analysis of the national corn prices and the prices that Western Plains Energy paid for the grain that it used to produce ethanol; and regression analysis of the national price of ethanol and the price that Western Plains Energy sold its ethanol for were also used to study the impact of the RFS. Finally, the vector autoregression (VAR) model is used to analyze the dynamic relationships between the variables in the system: corn price, oil price, ethanol price and unleaded gasoline price. The analysis of the correlation reveals that both at the national and plant level grain and oil prices track much more closely together after the creation and then expansion of the RFS. The VAR reveals that there is some relationship between corn and oil prices contemporaneously. The correlation matrix of residuals reveals that there is not a strong correlation between national corn and oil prices. The results suggest the need for greater research in this area. The creation and expansion of the RFS represented a step into uncharted territory and the consequences are still not known.
Book Synopsis Renewable Fuel Standard (RFS) by : Randy Schnepf
Download or read book Renewable Fuel Standard (RFS) written by Randy Schnepf and published by DIANE Publishing. This book was released on 2011-05 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Federal policy has played a key role in the emergence of the U.S. biofuels industry. Policy measures include minimum renewable fuel usage requirements, blending and production tax credits, an import tariff, loans, and research grants. This report focuses on the mandated minimum usage requirements, the RFS, whereby a minimum volume of biofuels is to be used in the national transport. fuel supply each year. It describes the general nature of the RFS mandate and its implementation, and outlines some emerging issues related to the sustainability of the continued growth in U.S. biofuels production needed to fulfill the expanding RFS mandate, as well as the emergence of potential unintended consequences of this rapid expansion. A print on demand report.
Book Synopsis Market and Social Welfare Effects of the Renewable Fuels Standard by : Amy W. Ando
Download or read book Market and Social Welfare Effects of the Renewable Fuels Standard written by Amy W. Ando and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper evaluates the welfare and greenhouse-gas effects of the Renewable Fuel Standard (RFS) in the presence of biofuel subsidies. In our numerical model, demand for gasoline and ethanol stems from consumer demand for driving miles, but all fuels have congestion and environmental external costs. Our estimates of the effects of ethanol mandates on greenhouse gases and social welfare (relative to the status quo) are sensitive to assumptions about the gasoline supply elasticity. The impact of the mandate, by itself, on greenhouse gas emissions ranges from -0.5% to - 5% relative to the status quo; and is reduced when the mandate is accompanied by a tax credit. The welfare costs of the mandate relative to the socially optimal policy ranges from $60 B to $115 B depending on the elasticity of gasoline supply. The provision of a tax credit in addition to the mandate leads to additional deadweight losses that range from $1.1 to $12 billion. An ethanol mandate policy provides assured demand for ethanol and therefore supports the domestic ethanol industry, particularly the cellulosic biofuel industry. However, such policy may harm the well-being of the country as a whole, even relative to the ethanol support policy that was in place before the current mandate was passed.
Book Synopsis The Renewable Fuel Standard by : Lydia Rider
Download or read book The Renewable Fuel Standard written by Lydia Rider and published by Nova Science Publishers. This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Federal policy has played a key role in the emergence of the U.S. biofuels industry. Policy measures have included minimum renewable fuel usage requirements, blending and production tax credits, an import tariff, loans and loan guarantees, and research grants. One of the more prominent forms of federal policy support is the Renewable Fuel Standard (RFS) -- whereby a minimum volume of biofuels is to be used in the national transportation fuel supply each year. This book describes the general nature of the RFS mandate and its implementation, and outlines some emerging issues related to the continued growth of U.S. biofuels production needed to fulfill the expanding RFS mandate, the potential inability of the domestic market to absorb ethanol above a 10% share of domestic gasoline fuels (a problem known as the "blend wall"), and the emergence of potential unintended consequences of this rapid expansion.
Book Synopsis Welfare Implications of the Renewable Fuel Standards with a Revenue-neutral Tax by : Gregmar I. Galinato
Download or read book Welfare Implications of the Renewable Fuel Standards with a Revenue-neutral Tax written by Gregmar I. Galinato and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Stacking Low Carbon Policies on the Renewable Fuels Standard by : Haixiao Huang
Download or read book Stacking Low Carbon Policies on the Renewable Fuels Standard written by Haixiao Huang and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the economic and GHG implications of stacking a low carbon fuel standard (LCFS) with and without a carbon price policy on the Renewable Fuel Standard (RFS). We compare the performance of various policy combinations for food and fuel prices, fuel mix and fuel consumption. We also analyze the economic costs and benefits of alternative policy combinations and their distributional effects for consumers and producers in the transportation and agricultural sector in the US. Using a dynamic, multi-market equilibrium, nonlinear mathematical programming model of the transportation and agricultural sectors, we find that combining the RFS with an LCFS policy leads to a reduction in first generation biofuels and an increase in second generation biofuels compared to the RFS alone. This policy combination also achieves greater reduction in GHG emissions even after considering offsetting market mediated effects. Imposition of a carbon price with the RFS and LCFS policy primarily induces fuel conservation and achieves larger GHG emissions reduction compared to the other policy scenarios. All of these policy combination lead to higher net economic benefits for the transportation and agricultural sectors relative to the no policy baseline because they improve the terms of trade for these sectors.
Book Synopsis Regulation of Fuels and Fuel Additives - Changes to Renewable Fuel Standard Program - Final Rule (Us Environmental Protection Agency Regulation) (Epa) (2018 Edition) by : Law Library
Download or read book Regulation of Fuels and Fuel Additives - Changes to Renewable Fuel Standard Program - Final Rule (Us Environmental Protection Agency Regulation) (Epa) (2018 Edition) written by Law Library and published by Createspace Independent Publishing Platform. This book was released on 2018-09 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulation of Fuels and Fuel Additives - Changes to Renewable Fuel Standard Program - Final Rule (US Environmental Protection Agency Regulation) (EPA) (2018 Edition) The Law Library presents the complete text of the Regulation of Fuels and Fuel Additives - Changes to Renewable Fuel Standard Program - Final Rule (US Environmental Protection Agency Regulation) (EPA) (2018 Edition). Updated as of May 29, 2018 Under the Clean Air Act Section 211(o), as amended by the Energy Independence and Security Act of 2007 (EISA), the Environmental Protection Agency is required to promulgate regulations implementing changes to the Renewable Fuel Standard program. The revised statutory requirements specify the volumes of cellulosic biofuel, biomass-based diesel, advanced biofuel, and total renewable fuel that must be used in transportation fuel. This action finalizes the regulations that implement the requirements of EISA, including the cellulosic, biomass-based diesel, advanced biofuel, and renewable fuel standards that will apply to all gasoline and diesel produced or imported in 2010. The final regulations make a number of changes to the current Renewable Fuel Standard program while retaining many elements of the compliance and trading system already in place. This final rule also implements the revised statutory definitions and criteria, most notably the new greenhouse gas emission thresholds for renewable fuels and new limits on renewable biomass feedstocks. This rulemaking marks the first time that greenhouse gas emission performance is being applied in a regulatory context for a nationwide program. As mandated by the statute, our greenhouse gas emission assessments consider the full lifecycle emission impacts of fuel production from both direct and indirect emissions, including significant emissions from land use changes. In carrying out our lifecycle analysis we have taken steps to ensure that the lifecycle estimates are based on the latest and most up-to-date science. The lifecycle greenhouse gas assessments reflected in this rulemaking represent significant improvements in analysis based on information and data received since the proposal. However, we also recognize that lifecycle GHG assessment of biofuels is an evolving discipline and will continue to revisit our lifecycle analyses in the future as new information becomes available. EPA plans to ask the National Academy of Sciences for assistance as we move forward. Based on current analyses we have determined that ethanol from corn starch will be able to comply with the required greenhouse gas (GHG) threshold for renewable fuel. Similarly, biodiesel can be produced to comply with the 50% threshold for biomass-based diesel, sugarcane with the 50% threshold for advanced biofuel and multiple cellulosic-based fuels with their 60% threshold. Additional fuel pathways have also been determined to comply with their thresholds. The assessment for this rulemaking also indicates the increased use of renewable fuels will have important environmental, energy and economic impacts for our Nation. This book contains: - The complete text of the Regulation of Fuels and Fuel Additives - Changes to Renewable Fuel Standard Program - Final Rule (US Environmental Protection Agency Regulation) (EPA) (2018 Edition) - A table of contents with the page number of each section
Book Synopsis The Effects of the Renewable Fuel Standard (RFS) on the Production of Fuel Ethanol in the U.S. by : Jay P. Kesan
Download or read book The Effects of the Renewable Fuel Standard (RFS) on the Production of Fuel Ethanol in the U.S. written by Jay P. Kesan and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Renewable Fuel Standard (RFS) program, which mandates the commercialization of bio-fuels through 2022, is the U.S.'s most significant renewable energy policy. It was first established in 2005 in order to create a viable market for bio-fuels based on the policy goals of enhancing U.S. energy security, reducing transportation-related GHG emissions, and stimulating rural economic development. In this Paper, we provide the first empirical study addressing whether the RFS is an effective policy instrument to incentivize the efficient development of an economically sustainable bio-fuels industry. Our analysis focuses on data associated with the first-generation bio-ethanol industry and suggests that the RFS contributes to increasing production-related economies of scale. More specifically, our empirical findings suggest that the RFS has a positive significant effect on: (1) the survival rate of first-generation bio-ethanol plants; and (2) the production capacity of first-generation bio-ethanol plants.
Book Synopsis Implementing the Renewable Fuel Standard with the Renewable Portfolio Standard in the US by : Anthony Oliver
Download or read book Implementing the Renewable Fuel Standard with the Renewable Portfolio Standard in the US written by Anthony Oliver and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Renewable Fuel Standard (RFS) and state-level Renewable Portfolio Standards (RPS) have the potential to interact in complex ways because they will both rely on biomass for cellulosic biofuels and bio-electricity. This interaction could be synergistic or competitive; while the implementation of the RFS could divert biomass from electricity generation for biofuels it would also generate electricity as a co-product of the cellulosic biofuel production process. This paper examines the welfare costs and greenhouse gas (GHG) emissions effects of the RFS and RPS implemented jointly and compares them with those of implementing each of these policies by itself over the 2007-2030 period using an integrated, dynamic, price endogenous model of the electricity, transportation and agricultural sectors for the US. We also compare the cost effectiveness of these policies implemented jointly with those of a carbon tax that achieves the same level of cumulative reduction in domestic GHG emissions over 2007-2030 period. We find that the implementation of the RFS will raise the welfare costs of implementing the RPS for the electricity sector by 10% and lower its GHG benefits by 7% relative to those with the RPS implemented by itself. We also find that the global welfare costs of the jointly implemented RFS and RPS policies are significantly higher than those of a carbon tax. However, the former induces a larger shift to renewable energy than the carbon tax alone and thus would achieve larger reductions in domestic GHG emissions in the long run than a constant carbon tax policy.
Book Synopsis Welfare Implications of the Renewable Fuel Standard with an Integrated Tax Subsidy Policy by : Gregory I. Galinato
Download or read book Welfare Implications of the Renewable Fuel Standard with an Integrated Tax Subsidy Policy written by Gregory I. Galinato and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Agriculture. Subcommittee on Conservation, Credit, Energy, and Research Publisher : ISBN 13 : Total Pages :140 pages Book Rating :4.0/5 ( download)
Book Synopsis Hearing to Review Renewable Fuels Standard Implementation and Agriculture Producer Eligibility by : United States. Congress. House. Committee on Agriculture. Subcommittee on Conservation, Credit, Energy, and Research
Download or read book Hearing to Review Renewable Fuels Standard Implementation and Agriculture Producer Eligibility written by United States. Congress. House. Committee on Agriculture. Subcommittee on Conservation, Credit, Energy, and Research and published by . This book was released on 2009 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Impacts of the Renewable Fuel Standard on America's Land and Water Resources by : Tyler J. Lark
Download or read book Impacts of the Renewable Fuel Standard on America's Land and Water Resources written by Tyler J. Lark and published by . This book was released on 2019 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Agriculture. Subcommittee on Conservation, Credit, Energy, and Research Publisher : ISBN 13 : Total Pages :404 pages Book Rating :4.3/5 (91 download)
Book Synopsis Hearing to Review the Impact of the Indirect Land Use and Renewable Biomass Provisions in the Renewable Fuel Standard by : United States. Congress. House. Committee on Agriculture. Subcommittee on Conservation, Credit, Energy, and Research
Download or read book Hearing to Review the Impact of the Indirect Land Use and Renewable Biomass Provisions in the Renewable Fuel Standard written by United States. Congress. House. Committee on Agriculture. Subcommittee on Conservation, Credit, Energy, and Research and published by . This book was released on 2009 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Renewable Fuel Standard by : United States. Government Accountability Office
Download or read book Renewable Fuel Standard written by United States. Government Accountability Office and published by . This book was released on 2019 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Congress established the RFS in 2005 and expanded it 2 years later. The RFS generally mandates that transportation fuels—typically gasoline and diesel—sold in the United States contain increasing amounts of biofuels. In addition, the RFS is designed to reduce greenhouse gas emissions by replacing petroleum-based fuels with biofuels expected to have lower associated greenhouse gas emissions. The most common biofuel currently produced in the United States is corn-starch ethanol, distilled from the sugars in corn. EPA uses RINs associated with biofuels blended with petroleum-based fuels to regulate compliance with the program. In 2014, GAO found that refiners’ costs for complying with the RFS had increased, and in 2016, GAO found that greenhouse gas emissions are unlikely to be reduced to the extent anticipated because production of advanced biofuels—which reduce greenhouse gas emissions more than corn-starch ethanol—has not kept pace with the yearly increases or the target of 21 billion gallons by 2022 called for by the statute. GAO was asked to review additional issues related to the effects of the RFS. This report examines what is known about (1) the effect the RFS has had to date on retail gasoline prices in the United States and (2) the RFS’s effect on greenhouse gas emissions and whether the RFS will meet its goals for reducing those emissions. The report also provides information about RINs. Because the RFS was implemented on a nationwide basis at the same time that other factors, such as the global price of crude oil and domestic demand for retail gasoline, were affecting retail gasoline prices across the nation, it is not possible to directly isolate and measure the effect the RFS had on gasoline prices nationwide given data available to GAO. Instead GAO developed and extensively tested an econometric model that estimated the effects on retail gasoline prices of state ethanol mandates.
Author :United States. Environmental Protection Agency. Office of Transportation and Air Quality. Assessment and Standards Division Publisher : ISBN 13 : Total Pages :0 pages Book Rating :4.:/5 (134 download)
Book Synopsis Renewable Fuel Standard (RFS) Program: RFS Annual Rules by : United States. Environmental Protection Agency. Office of Transportation and Air Quality. Assessment and Standards Division
Download or read book Renewable Fuel Standard (RFS) Program: RFS Annual Rules written by United States. Environmental Protection Agency. Office of Transportation and Air Quality. Assessment and Standards Division and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis What Has the Federal Renewable Fuels Standard Accomplished - A National Perspective (Presentation). by :
Download or read book What Has the Federal Renewable Fuels Standard Accomplished - A National Perspective (Presentation). written by and published by . This book was released on 2013 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: This presentation provides an overview of the nation's biofuels industry accomplishments and a perspective on the challenges and implications of reaching goals set in the Renewable Fuel Standard (RFS).
