Economic and Environmental Impacts of Washington State Biofuel Policy Alternatives

A computable general equilibrium model is used to analyze the effectiveness of policy alternatives at achieving biofuel-related goals in Washington State. Policy regimes compared include blend mandates, generally funded volumetric and CO2e (CO2 equivalent) emissions-based tax/subsidy regimes, and revenue-neutral funded tax/subsidy regimes that use fossil fuel taxes to fund renewable fuel subsidies. Results suggest that a revenue-neutral CO2e emissions-based tax/subsidy is arguably the most effective single alternative for pursuing the full set of objectives emphasized in recent Washington State legislation.
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McCullough, Michael; Holland, David W.; Painter, Kathleen M.; Stodick, Leroy; Yoder, Jonathan K., Economic and Environmental Impacts of Washington State Biofuel Policy Alternatives, Journal of Agricultural and Resource Economics, Volume 36, Issue 3, December 2011, Pages 615-629

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