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An Overview of Global Markets and Policies

Govinda Timilsina () and Ashish Shrestha ()
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Ashish Shrestha: The World Bank

Chapter Chapter 1 in The Impacts of Biofuels on the Economy, Environment, and Poverty, 2014, pp 1-14 from Springer

Abstract: Abstract Following the oil crisis of the 1970s, countries looked to biofuels to substitute the use of fossil fuel in transportation. Brazil and the United States (US) governments impelled national programs for ethanol production (Worldwatch 2007) around 1979; meanwhile, some countries (e.g. China, Kenya, and Zimbabwe) acted in response to the oil crisis but were not able to sustain biofuel production (Liu 2005; Karekezi et al. 2004). When oil prices decreased again, the impetus for alternative fuels retreated—except in Brazil. Current drivers of the alternative energy supply include issues of energy supply security, oil price volatility, climate change, production costs, and more. Subsidy is the main policy instrument to incentivize production, although production costs are dropping.

Keywords: European Union; Ethanol Production; Biofuel Production; Cellulosic Ethanol; Renewable Fuel (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/978-1-4939-0518-8_1

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