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    • AgBioForum (Journal)
    • AgBioForum, vol. 10, no. 2 (2007)
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    •   MOspace Home
    • University of Missouri-Columbia
    • College of Agriculture, Food and Natural Resources (MU)
    • Division of Applied Social Sciences (MU)
    • Department of Agricultural Economics (MU)
    • Economics and Management of Agrobiotechnology Center (MU)
    • AgBioForum (Journal)
    • AgBioForum, vol. 10, no. 2 (2007)
    • View Item
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    Economic Impacts of Not Extending Biofuel Subsidies

    Kruse, John Robert
    Westhoff, Patrick C. (Patrick Charles), 1958-
    Meyer, Seth Dominic
    Thompson, Wyatt
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    [PDF] Economic impacts biofuel subsidies.pdf (271.6Kb)
    Date
    2007
    Format
    Article
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    Abstract
    The exponential growth of the biofuels industry has created significant increases in feed prices to the livestock sector. In February and March of 2007, the National Cattlemen's Beef Association and the National Pork Producers called for the nonrenewal of the $0.51-per-gallon excise tax credit for ethanol as well as elimination of the $0.54-per-gallon import tariff on ethanol. This study uses a stochastic model to analyze the impact of not extending the ethanol tax credit, the ethanol import tariff, or the $1.00-per-gallon biodiesel tax credit on the biofuels and agricultural commodity markets. The Renewable Fuel Standard mandate requiring a minimum of ethanol use is maintained. The study finds that future growth in biofuels relies heavily on the extension of the tax credits and import tariff. Commodity prices will fall without the extension of them and make net farm income drop by an average of $3.1 billion per year over the 2011-2016 period. This is because lower feed prices for livestock producers represent low output prices for crop farmers.
    URI
    http://hdl.handle.net/10355/64
    Citation
    AgBioForum, 10(2) 2007: 94-103.
    Rights
    OpenAccess.
    This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 License.
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    • AgBioForum, vol. 10, no. 2 (2007)

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