Thursday, February 17, 2022

                                WILL  BIOFUELS  DRIVE
              CORN PRICES HIGH AS AN ELEPHANT'S EYE?

PNAS 

Environmental outcomes of the US Renewable Fuel Standard

Biofuels are included in many proposed strategies to reduce anthropogenic greenhouse gas emissions and limit the magnitude of global warming...

Even without considering likely international land use effects, we find that the production of corn-based ethanol in the United States has failed to meet the policy’s own greenhouse gas emissions targets and negatively affected water quality, the area of land used for conservation, and other ecosystem processes...

We find that the RFS increased corn prices by 30% and the prices of other crops by 20%, which, in turn, expanded US corn cultivation by 2.8 Mha (8.7%) and total cropland by 2.1 Mha (2.4%) in the years following policy enactment (2008 to 2016).

These changes increased annual nationwide fertilizer use by 3 to 8%, increased water quality degradants by 3 to 5%, and caused enough domestic land use change emissions such that the carbon intensity of corn ethanol produced under the RFS is no less than gasoline and likely at least 24% higher. 

These tradeoffs must be weighed alongside the benefits of biofuels as decision-makers consider the future of renewable energy policies and the potential for fuels like corn ethanol to meet climate mitigation goals.