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The Economics of Biofuel Policies focuses on the role of biofuel policies in creating turmoil in the world grains and oilseed markets since 2006, The global food crises of 2008 and 2010 and the increased price volatility revolve around biofuels policies and their interaction with each other, farm policies and between countries. While a certain degree of research has been conducted on biofuel efficacy and logistics, there is currently no book on the market devoted to the economics of biofuel policies. The Economics of Biofuel Policies focuses on the role of biofuel policies in creating turmoil in the world grains and oilseed markets since 2006. This new volume is the first to put together theory and empirical evidence of how biofuel policies created a link between crop (food grains and oilseeds) and biofuel (ethanol and biodiesel) prices. This combined with biofuel policies role in affecting the link between biofuels and energy (gasoline, diesel and crude oil) prices will form the basis to show how alternative US, EU, and Brazilian biofuel policies have immense impacts on the level and volatility of food grain and oilseed prices

AbstractA conceptual framework is advanced that determines world biodiesel prices, the policy parameters in the country establishing the price, and the binding mandate or tax exemption. The effect of a tax credit differs with international trade compared to traditional closed economy analysis. The U.S. "splash & dash" program, with its $1/gallon tax credit, had minimal impacts on European Union (EU) biodiesel producer profits. Reduced world oil prices and EU tax exemptions, as well as increased rapeseed oil prices, are shown to have reduced the profitability of EU biodiesel production. EU imports from the United States can be beneficial for EU taxpayers, fuel consumers, and U.S. biodiesel producers.

According to the European Council's recent agreement on domestic climate and energy goals, greenhouse gas emissions from sectors outside the EU's Emission Trading Scheme have to be cut by 30% below 2005 levels by 2030. So far no decision has been taken on agriculture's specific involvement in mitigation obligations or on how mitigation targets would be distributed between Member States. Based on hypothetical assumptions, we employ the CAPRI model to illustrate and highlight some potential impacts and challenges related to an integration of the agricultural sector into the new EU climate policy framework. Results of the hypothetical mitigation policy scenario show important impacts on EU agriculture, in particular the livestock sector, if the distribution key of the current Effort Sharing Decision would be rigidly applied as in our assumptions. The results highlight the importance of a targeted but flexible implementation of mitigation policy instruments in the EU and its Member States, as well as the need for a wider consideration and adoption of technological mitigation options.