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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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- Spring '09