Economical Assessment of Biofuel Production

Authored by: B.A. McCarl , J.P.H. Jones , M. Kapilakanchana , M.Z. Wang , G. Zhao , M.R. Riazi , David Chiaramonti

Biofuels Production and Processing Technology

Print publication date:  October  2017
Online publication date:  October  2017

Print ISBN: 9781498778930
eBook ISBN: 9781315155067
Adobe ISBN:

10.1201/9781315155067-22

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Abstract

The expansion of biofuel involves many economic, food security, and greenhouse gas considerations and is at present controversial. This chapter reviews the literature and summarizes issues regarding economic considerations that are involved with such an expansion when it involves agriculturally based biofuel production. Some food security and environmental issues are also covered. Many factors go into determining the market implications and cost competitiveness of agriculturally based biofuel production. We will cover logistics costs and supply chain design, food versus fuel, marginal land use, technological progress, asset fixity, uncertainty in yields and mandates, fuel market penetration characteristics, and infrastructure requirements, among other important factors. We also cover the welfare and market implications of biofuel production, including rural jobs.

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