Reference Type: Electronic Resource
Title: Effects of Increased Biofuels on the U.S. Economy in 2022
Primary Authors: Mark Gehlhar, Ashley Winston, Agapi Somwaru
Published: 2010, USDA
Abstract: Diversifying the Nation’s energy supply is one of the primary means for providing long-term energy security. A diverse energy portfolio can also have far-reaching economic impacts by reducing dependence on foreign oil. The Energy Independence and Security Act of 2007 (EISA) mandates a Renewable Fuel Standard (RFS-2) under which the United States will annually produce 36 billion gallons of biofuel, primarily ethanol, by 2022.
Transitioning away from nonrenewable fossil fuels (such as petroleum oil) without placing additional burden on the U.S. economy is a long-term challenge. Although experts and policymakers generally agree on the importance of energy security, how best to achieve this goal and at what cost is subject to debate.
Ag Matters Catalog ID: 437