The 2.1 billion gallons of biodiesel and renewable diesel used by Americans in 2015 supported $8.4 billion 1 in economic impact, including: In fact, every 100 million gallons of biodiesel production supports roughly 3,200 jobs 2 , and producers are ready to expand production and hire new workers with steady growth under the Renewable Fuel Standard. It leads to land grabbing in developing countries, displacing communities. Table 4-2.2: Economic Impacts for Biofuels Economic Impact Multiplier Unit Direct Indirect Induced Total Revenues 1.095 million $ 9,405 395 502 10,302 Income 1.756 627 200 274 1,101 Wages 2.445 193 124 155 472 Employment 3.538 jobs 2,398 2,415 ECONOMIC IMPACT OF A SECOND‐GENERATION BIOFUELS FACILITY ii Table of Contents 1. Negative environmental consequences of fossil fuels and concerns about petroleum supplies have spurred the search for renewable transportation biofuels. The ecological impact of biofuels is mediated through their effects on land, air, and water. Edited by: Marco Aur lio dos Santos Bernardes. The central policy of biofuel concerns job creation, greater efficiency in the general business environment, and protection of the environment. ). The green economy, including biofuels and biomass production, has received consider-able academic and popular press attention. Biofuels advantages include economic, environmental and safety benefits for transportation fuel industry participants and end users. This is because they do not have the foreign exchange to pay for all of the imports! While the combined impact of lowered energy costs and increased food costs may be trivial for middle and high-income population, there is growing evidence indicating that biofuels could very well have a net negative impact on poorer populations. Like a dream come true, the benefits of biofuels were meant to be far-reaching. Biofuels provide the prospect of new economic opportunities for people in rural areas in oil importer and developing countries. Biofuel production from food crops is expected to increase 170% by 2020. In 2008, about 33.3 million ha were used to produce food-based biofuels and their coproducts. Biofuels are fuels that can be produced from any renewable biological resources, such as plant material. If they import too much oil, they often have to cut the import of other essential commodities. This creates an incredibly incomplete picture of the actual level of environmental impact of various biofuels. ECONOMIC IMPACT ANALYSIS METHODOLOGY 2 4. INTRODUCTION 2 3. American Journal of Agriculture Economics, 95(2), 275–281. The International Air Transport Association (IATA) considers it to be one of the key elements to reduce the carbon footprint within the environmental impact of aviation. The regional economic impacts of biofuels: a review of multisectoral modelling techniques and evaluation of applications, Regional Studies . The economic impact of the This review focuses on the economic analysis, environmental impact, and industrial potential of biofuels production from microalgae. The biofuels industry is a significant contributor to economic growth in Iowa by adding nearly $4 billion to state GDP, supporting more than 37,000 jobs in all sectors of the economy, and generating $1.8 billion in household income. Allan G. J. "National Research Council. The EU’s 2006 impact assessment of their biofuel strategy drew a number of conclusions, including: • while actual emissions reductions depended upon the feedstock used and production methods employed, the net greenhouse gas effect of biofuels is positive; There are various social, economic, environmental and technical issues with biofuel production and use, which have been discussed in the popular media and scientific journals. Read more about 10 disadvantages of biofuels. Local economic impact effects arise primarily from worker payrolls and other local expenditures for supplies and utilities. The economic, environmental, and social advantages of biofuel have become increasingly known over recent years. Suggested Citation:"5 Environmental Effects and Tradeoffs of Biofuels. 2011. BIOFUELS: PROSPECTS, RISKS AND OPPORTUNITIES 57 insignificant at the commercial level, typically offer emission reductions in the order of 70– 90 percent, compared with fossil diesel and petrol, also excluding carbon releases related to land-use change. Biofuels are hot now, but integrating them into our fuel use habits could be costly. Keywords : Biofuels, biomass, renewable energy, fossil fuels. Given this context, the time is ripe for a survey that summarizes what is known about EXECUTIVE SUMMARY 1 2. Executive Summary: Total Economic Impact of Renewable Fuels Plants in Canada – Operations Phase, Net enefits Under Scenario “A” • However, the sales of feedstocks for biofuels plants may be said to happen anyway; mostly they are useful tradable Major biofuel-exporting countries, such as Brazil, Argentina and Indonesia, would benefit on balance as higher global demand boosts their exports of biofuels and feedstocks. Economic impact of yield and composition The MFSP is a significant focal point in evaluating the economic feasibility of a biorefinery, so the relationship with … STUDY AREA, SCENARIOS, DATA NEEDS, AND To assess this impact, we examined a recently developed corn ethanol plant. Rising oil prices have had a severe economic impact on the current account position of many nations. Economic Effects of Biofuel Production. The impact of biofuels on commodity food prices: assessment and findings. economic impact of biofuel production in industrialized countries and developing countries that are or could become, efficient producers in export markets and profitable new. Economic Impact Analysis of Biofuels Alternatives in Pitt County, North Carolina Prepared by: Mark G. Little, T. William Lester, Jennifer Slesinger, and G. Jason Jolley Frank Hawkins Kenan Institute of Private Enterprise, UNC Chapel Hill Prepared for: The An aviation biofuel or bio-jet-fuel[1] or bio-aviation fuel (BAF)[2] is a biofuel used to power aircraft and is said to be a sustainable aviation fuel (SAF). The following graph, taken from an article put out by the Smithsonian Tropical Research Institute, offers an excellent look into how speaking strictly from a GHG perspective, biofuels have incorrectly been hailed as the answer to all of our environmental problems. The analysis indicates that expansion of biofuels over the next decade to meet the various national targets would have significantly different economic impacts across countries. Keywords: biofuels, bioproducts, sustainability, international cooperation, socio-economic impacts 1 INTRODUCTION During th e first years o f the 21st century the major www.advancedbiofuels.ca 1 BACKGROUNDER: Economic Impact of Current and 10-Year Projections of Biofuels Production in Canada University of Minnesota Duluth’s BBER examines the economic benefits of increasing Canadian biofuel production along the To be a viable alternative, a biofuel should provide a net energy gain, have environmental benefits, be economically competitive, and be producible in large quantities without reducing food supplies. Societal Benefits of Biofuels in Europe In recent years, much media coverage of the biofuels industry in Europe has focused on the environmental impacts of some types of biofuels. 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