Arbeitspapier
Does a renewable fuel standard for biofuels reduce climate costs?
Recent literature on biofuels has questioned whether biofuels policies are likely to reduce the negative effects of climate change. Our analysis explicitly takes into account that oil is a non-renewable natural resource. A blending mandate has no effect on total cumulative oil extraction. However, extraction of oil is postponed as a consequence of the renewable fuel standard. Thus, if emissions from biofuels are negligible, the standard will have beneficial climate effects. The standard also reduces total fuel (i.e., oil plus biofuels) consumption initially. Hence, even if emissions from biofuels are non-negligible, a renewable fuel standard may still reduce climate costs. In fact our simulations show that even for biofuels that are almost as emissions-intensive as oil, a renewable fuel standard has beneficial climate effects.
- Language
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Englisch
- Bibliographic citation
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Series: Memorandum ; No. 09/2014
- Classification
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Wirtschaft
- Subject
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Renewable fuel standard
Blending mandate
Biofuels
Climate costs
Petroleum extraction profile
- Event
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Geistige Schöpfung
- (who)
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Greaker, Mads
Hoel, Michael
Rosendahl, Knut Einar
- Event
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Veröffentlichung
- (who)
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University of Oslo, Department of Economics
- (where)
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Oslo
- (when)
-
2014
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Greaker, Mads
- Hoel, Michael
- Rosendahl, Knut Einar
- University of Oslo, Department of Economics
Time of origin
- 2014
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Metabolic engineering and fermentative production of bacterial lipid based biofuels from renewable resources
Promofuel : promotion of advanced biofuels : preparation, fuel properties and engine emissions : final report
Detailed chemical kinetic modeling of biofuels and their blends with conventional fuel components
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