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Unformatted text preview: Section Notes 15 Outline Announcements Optional Paper Comments Biofuel Pesticide Resistance Review Problem: Invasive Species GSI Evaluation Biofuel Biofuel has many economic implications, identifying them involves thinking through the di erent markets that are impacted: food, fuel, agricultural inputs, etc. When considering the impact of biofuel, we can think about the role of crop technology as well. What are the impacts of biotechnology? Key points from biofuel • First generation: increased food prices & land use, countered by increased productivity, 2nd gener- ation biofuels and ag biotech • Elasticity of fuel and food markets matter: higher elasticity implies that biofuel will have higher impact on prices • Land use may initially increase, but in 2nd generation may allow for use less intensive crops on marginal lands • Biofuel market bene ts from low food prices and high energy prices • Sugarcane more competitive than corn ($40 vs. $60) • Coal vs. gas energy determines biofuel impact on GHG emissions: overall corn has low impact;Coal vs....
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This note was uploaded on 09/24/2011 for the course ECON C125 taught by Professor Zelberman during the Spring '09 term at Berkeley.
- Spring '09