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GTAP Resource #2793

"The potential for biofuels alongside the EU-ETS"
by Veenendaal, Paul J. J., Stefan Boeters, Nico van Leeuwen and Hugo Rojas-Romagosa


Abstract
On its March 2007 summit the European Council agreed to embark on an ambitious policy for energy and climate change that establishes several targets for the year 2020. Amongst others this policy aims to reduce greenhouse gas emissions by at least 20% compared to 1990 and to ensure that 20% of total energy use comes from renewable sources, partly by increasing the share of biofuels up to 10% of transport fuel use. In meeting the 20% reduction ceiling for greenhouse gas emissions the EU Emissions Trading Scheme (EU-ETS) will play a central role as the ‘pricing engine’ for CO2-emissions. Outside the EU-ETS other policy measures must ensure that that emissions targets are met as well. We summarize these policy efforts with separate national carbon taxes outside the EU-ETS.
We assess the impacts of raising the share of conventional biofuels to at least 10% within this specific policy environment, making use the global general equilibrium model WorldScan. Our main findings are: Biofuel promotion does hardly affect the emissions price, has large impacts on carbon taxes, raises arable land rents to some extent and has limited impacts on economic welfare. The latter are raised almost negligibly by the liberalization of biofuel trade.


Resource Details (Export Citation) GTAP Keywords
Category: 2008 Conference Paper
Status: Published
By/In: Presented at the 11th Annual Conference on Global Economic Analysis, Helsinki, Finland
Date: 2008
Version:
Created: Veenendaal, P. (4/16/2008)
Updated: Veenendaal, P. (4/16/2008)
Visits: 1,478
No keywords have been specified.


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