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GTAP Resource #2434

"THE ECONOMY-WIDE EFFECTS IN THE UNITED STATES OF REPLACING CRUDE PETROLEUM WITH BIOMASS"
Authors: Dixon, Peter, Stefan Osborne and Maureen Rimmer


Abstract
Part of President Bush’s energy policy is to encourage research aimed at reducing the cost of biomass-based motor fuels to become competitive with petroleum-based fuels. We use a dynamic, CGE model to investigate the economy-wide implications of successful implementation of this policy. We find in the long-run, 2020, that the U.S. would experience significant benefits arising from: (1) substitution of biomass whose price is likely to fall in the long-run for crude petroleum whose price is likely to rise; (2) reduction in the world price of crude petroleum; (3) an increase in employment; and (4) an increase in export prices.


Resource Details () GTAP Keywords
Category: 2007 Conference Paper
Status: Published
By/In: Presented at the 10th Annual Conference on Global Economic Analysis, Purdue University, USA; Energy & Environment Vol 18 No 5 2007auto,394
Date: 2007
Version:
Created: Osborne, S. (4/23/2007)
Updated: Batta, G. (1/17/2013)
Visits: 4,338
- Domestic policy analysis
- Dynamic modeling


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Last Modified: 4/15/2026 11:27:11 AM