What is the Social Value of Second-Generation Biofuels?

What is second-generation biofuel technology worth to global society? A dynamic, computable partial equilibrium model (called FABLE) is used to assess changes in global land use for crops, livestock, biofuels, forestry, and environmental services,...

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Main Authors:	Hertel, Thomas W., Steinbuks, Jevgenijs, Tyner, Wallace E.
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank Group, Washington, DC 2015
Subjects:	ACCESS COSTS AGRICULTURAL ECONOMICS AGRICULTURAL OUTPUT AGRICULTURAL PRODUCTION AGRICULTURAL USES AGROCHEMICALS ALLOCATION ALTERNATIVE SCENARIOS ANNUAL EMISSIONS ANNUAL ENERGY OUTLOOK APPROACH BEQUEST VALUE BIO-OIL BIOMASS BIOMASS CONVERSION BIOMASS FEEDSTOCK BIOMASS TO ENERGY CAPITAL COST CAPITAL COSTS CARBON CARBON EMISSIONS CARBON FLUXES CARBON FOOTPRINT CELLULOSIC BIOMASS CELLULOSIC FEEDSTOCK CELLULOSIC FEEDSTOCKS CHEMICAL PROCESSES CLIMATE CLIMATE CHANGE CLIMATE CHANGE IMPACTS CLIMATE POLICIES CLIMATE POLICY CLIMATE STABILIZATION CO2 COMBUSTION CONSUMER DEMAND CONSUMPTION OF ENERGY CONVERSION OF BIOMASS CORN STOVER COST ESTIMATES COST OF FEEDSTOCK COST OF PRODUCTION CRUDE OIL CRUDE OIL PRICE DECISION MAKING DEFORESTATION DEMAND FOR ENERGY DEMAND FOR ENERGY SERVICES DIESEL ECONOMIC GROWTH ECONOMIC VALUE ECONOMICS ECOSYSTEM ECOSYSTEMS EFFICIENT EQUIPMENT EFFICIENT USE ELECTRICITY EMISSIONS EMISSIONS FROM DEFORESTATION EMISSIONS FROM LIVESTOCK EMISSIONS MITIGATION EMISSIONS TARGETS ENERGY ECONOMICS ENERGY EXTRACTION ENERGY INFORMATION ADMINISTRATION ENERGY POLICY ENERGY PRICE ENERGY PRICES ENVIRONMENTAL ENVIRONMENTAL IMPACTS ENVIRONMENTAL RESEARCH EQUILIBRIUM ETHANOL EXPENDITURES EXTERNALITIES FAST PYROLYSIS FEEDSTOCK FEEDSTOCK COST FEEDSTOCK COSTS FEEDSTOCKS FERTILIZERS FOOD PRODUCTION FOREST FOREST AREA FOREST AREAS FOREST CARBON FOREST CARBON SEQUESTRATION FOREST SINKS FORESTRY FORESTRY ACTIVITIES FORESTRY PRODUCTS FORESTRY SECTOR FORESTS FOSSIL FOSSIL FUEL FOSSIL FUEL PRICES FOSSIL FUELS FUEL CONSUMPTION FUEL CONVERSION FUEL PRICES GAS TECHNOLOGY GASOLINE GENERATION GHG GREENHOUSE GREENHOUSE GAS GREENHOUSE GAS EMISSIONS HYDROCARBONS HYDROGEN INCOME INPUT PRICES LABOR COSTS LAND COVER CHANGE LAND RESOURCES LAND USE LAND USE DECISIONS LIQUID FUEL LIQUID FUELS LIVESTOCK PRODUCTS METHANE METHANE EMISSIONS NATURAL FORESTS NATURAL GAS NATURAL RESOURCES NITROUS OXIDE NITROUS OXIDE EMISSIONS OIL OIL EQUIVALENT OIL MARKETS OIL PRICE OIL PRICE SCENARIO OIL PRICES PASTURE LAND PASTURES PETROLEUM PETROLEUM PRICES PETROLEUM PRODUCTS POLICY ANALYSIS POLICY IMPLICATIONS POLICY MAKERS POPULATION GROWTH PRESENT VALUE PRODUCTIVITY GROWTH PYROLYSIS RENEWABLE FUEL RENEWABLE FUELS RESOURCE ECONOMICS RICE PRODUCTION RISKS OF CLIMATE CHANGE SUBSTITUTION SUSTAINABLE DEVELOPMENT TECHNOLOGICAL CHANGE TECHNOLOGICAL PROGRESS TEMPERATURE TIMBER TOTAL COST TOTAL COSTS TRANSPORTATION FUELS UNCERTAINTIES UTILITY FUNCTION WAGES WELFARE FUNCTION WOOD PRODUCTS WORLD CRUDE WORLD ENERGY WORLD ENERGY OUTLOOK
Online Access:	http://documents.worldbank.org/curated/en/2014/12/23056383/social-value-second-generation-biofuels http://hdl.handle.net/10986/21137

id	okr-10986-21137
recordtype	oai_dc
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCESS COSTS AGRICULTURAL ECONOMICS AGRICULTURAL OUTPUT AGRICULTURAL PRODUCTION AGRICULTURAL USES AGROCHEMICALS ALLOCATION ALTERNATIVE SCENARIOS ANNUAL EMISSIONS ANNUAL ENERGY OUTLOOK APPROACH BEQUEST VALUE BIO-OIL BIOMASS BIOMASS CONVERSION BIOMASS FEEDSTOCK BIOMASS TO ENERGY CAPITAL COST CAPITAL COSTS CARBON CARBON EMISSIONS CARBON FLUXES CARBON FOOTPRINT CELLULOSIC BIOMASS CELLULOSIC FEEDSTOCK CELLULOSIC FEEDSTOCKS CHEMICAL PROCESSES CLIMATE CLIMATE CHANGE CLIMATE CHANGE IMPACTS CLIMATE POLICIES CLIMATE POLICY CLIMATE STABILIZATION CO2 COMBUSTION CONSUMER DEMAND CONSUMPTION OF ENERGY CONVERSION OF BIOMASS CORN STOVER COST ESTIMATES COST OF FEEDSTOCK COST OF PRODUCTION CRUDE OIL CRUDE OIL PRICE DECISION MAKING DEFORESTATION DEMAND FOR ENERGY DEMAND FOR ENERGY SERVICES DIESEL ECONOMIC GROWTH ECONOMIC VALUE ECONOMICS ECOSYSTEM ECOSYSTEMS EFFICIENT EQUIPMENT EFFICIENT USE ELECTRICITY EMISSIONS EMISSIONS FROM DEFORESTATION EMISSIONS FROM LIVESTOCK EMISSIONS MITIGATION EMISSIONS TARGETS ENERGY ECONOMICS ENERGY EXTRACTION ENERGY INFORMATION ADMINISTRATION ENERGY POLICY ENERGY PRICE ENERGY PRICES ENVIRONMENTAL ENVIRONMENTAL IMPACTS ENVIRONMENTAL RESEARCH EQUILIBRIUM ETHANOL EXPENDITURES EXTERNALITIES FAST PYROLYSIS FEEDSTOCK FEEDSTOCK COST FEEDSTOCK COSTS FEEDSTOCKS FERTILIZERS FOOD PRODUCTION FOREST FOREST AREA FOREST AREAS FOREST CARBON FOREST CARBON SEQUESTRATION FOREST SINKS FORESTRY FORESTRY ACTIVITIES FORESTRY PRODUCTS FORESTRY SECTOR FORESTS FOSSIL FOSSIL FUEL FOSSIL FUEL PRICES FOSSIL FUELS FUEL CONSUMPTION FUEL CONVERSION FUEL PRICES GAS TECHNOLOGY GASOLINE GENERATION GHG GREENHOUSE GREENHOUSE GAS GREENHOUSE GAS EMISSIONS HYDROCARBONS HYDROGEN INCOME INPUT PRICES LABOR COSTS LAND COVER CHANGE LAND RESOURCES LAND USE LAND USE DECISIONS LIQUID FUEL LIQUID FUELS LIVESTOCK PRODUCTS METHANE METHANE EMISSIONS NATURAL FORESTS NATURAL GAS NATURAL RESOURCES NITROUS OXIDE NITROUS OXIDE EMISSIONS OIL OIL EQUIVALENT OIL MARKETS OIL PRICE OIL PRICE SCENARIO OIL PRICES PASTURE LAND PASTURES PETROLEUM PETROLEUM PRICES PETROLEUM PRODUCTS POLICY ANALYSIS POLICY IMPLICATIONS POLICY MAKERS POPULATION GROWTH PRESENT VALUE PRODUCTIVITY GROWTH PYROLYSIS RENEWABLE FUEL RENEWABLE FUELS RESOURCE ECONOMICS RICE PRODUCTION RISKS OF CLIMATE CHANGE SUBSTITUTION SUSTAINABLE DEVELOPMENT TECHNOLOGICAL CHANGE TECHNOLOGICAL PROGRESS TEMPERATURE TIMBER TOTAL COST TOTAL COSTS TRANSPORTATION FUELS UNCERTAINTIES UTILITY FUNCTION WAGES WELFARE FUNCTION WOOD PRODUCTS WORLD CRUDE WORLD ENERGY WORLD ENERGY OUTLOOK
spellingShingle	ACCESS COSTS AGRICULTURAL ECONOMICS AGRICULTURAL OUTPUT AGRICULTURAL PRODUCTION AGRICULTURAL USES AGROCHEMICALS ALLOCATION ALTERNATIVE SCENARIOS ANNUAL EMISSIONS ANNUAL ENERGY OUTLOOK APPROACH BEQUEST VALUE BIO-OIL BIOMASS BIOMASS CONVERSION BIOMASS FEEDSTOCK BIOMASS TO ENERGY CAPITAL COST CAPITAL COSTS CARBON CARBON EMISSIONS CARBON FLUXES CARBON FOOTPRINT CELLULOSIC BIOMASS CELLULOSIC FEEDSTOCK CELLULOSIC FEEDSTOCKS CHEMICAL PROCESSES CLIMATE CLIMATE CHANGE CLIMATE CHANGE IMPACTS CLIMATE POLICIES CLIMATE POLICY CLIMATE STABILIZATION CO2 COMBUSTION CONSUMER DEMAND CONSUMPTION OF ENERGY CONVERSION OF BIOMASS CORN STOVER COST ESTIMATES COST OF FEEDSTOCK COST OF PRODUCTION CRUDE OIL CRUDE OIL PRICE DECISION MAKING DEFORESTATION DEMAND FOR ENERGY DEMAND FOR ENERGY SERVICES DIESEL ECONOMIC GROWTH ECONOMIC VALUE ECONOMICS ECOSYSTEM ECOSYSTEMS EFFICIENT EQUIPMENT EFFICIENT USE ELECTRICITY EMISSIONS EMISSIONS FROM DEFORESTATION EMISSIONS FROM LIVESTOCK EMISSIONS MITIGATION EMISSIONS TARGETS ENERGY ECONOMICS ENERGY EXTRACTION ENERGY INFORMATION ADMINISTRATION ENERGY POLICY ENERGY PRICE ENERGY PRICES ENVIRONMENTAL ENVIRONMENTAL IMPACTS ENVIRONMENTAL RESEARCH EQUILIBRIUM ETHANOL EXPENDITURES EXTERNALITIES FAST PYROLYSIS FEEDSTOCK FEEDSTOCK COST FEEDSTOCK COSTS FEEDSTOCKS FERTILIZERS FOOD PRODUCTION FOREST FOREST AREA FOREST AREAS FOREST CARBON FOREST CARBON SEQUESTRATION FOREST SINKS FORESTRY FORESTRY ACTIVITIES FORESTRY PRODUCTS FORESTRY SECTOR FORESTS FOSSIL FOSSIL FUEL FOSSIL FUEL PRICES FOSSIL FUELS FUEL CONSUMPTION FUEL CONVERSION FUEL PRICES GAS TECHNOLOGY GASOLINE GENERATION GHG GREENHOUSE GREENHOUSE GAS GREENHOUSE GAS EMISSIONS HYDROCARBONS HYDROGEN INCOME INPUT PRICES LABOR COSTS LAND COVER CHANGE LAND RESOURCES LAND USE LAND USE DECISIONS LIQUID FUEL LIQUID FUELS LIVESTOCK PRODUCTS METHANE METHANE EMISSIONS NATURAL FORESTS NATURAL GAS NATURAL RESOURCES NITROUS OXIDE NITROUS OXIDE EMISSIONS OIL OIL EQUIVALENT OIL MARKETS OIL PRICE OIL PRICE SCENARIO OIL PRICES PASTURE LAND PASTURES PETROLEUM PETROLEUM PRICES PETROLEUM PRODUCTS POLICY ANALYSIS POLICY IMPLICATIONS POLICY MAKERS POPULATION GROWTH PRESENT VALUE PRODUCTIVITY GROWTH PYROLYSIS RENEWABLE FUEL RENEWABLE FUELS RESOURCE ECONOMICS RICE PRODUCTION RISKS OF CLIMATE CHANGE SUBSTITUTION SUSTAINABLE DEVELOPMENT TECHNOLOGICAL CHANGE TECHNOLOGICAL PROGRESS TEMPERATURE TIMBER TOTAL COST TOTAL COSTS TRANSPORTATION FUELS UNCERTAINTIES UTILITY FUNCTION WAGES WELFARE FUNCTION WOOD PRODUCTS WORLD CRUDE WORLD ENERGY WORLD ENERGY OUTLOOK Hertel, Thomas W. Steinbuks, Jevgenijs Tyner, Wallace E. What is the Social Value of Second-Generation Biofuels?
relation	Policy Research Working Paper;No. 7142
description	What is second-generation biofuel technology worth to global society? A dynamic, computable partial equilibrium model (called FABLE) is used to assess changes in global land use for crops, livestock, biofuels, forestry, and environmental services, as well as greenhouse gas emissions, with and without second-generation biofuels technology. The difference in the discounted stream of global valuations of land-based goods and services gives the value of second-generation technology to society. Under baseline conditions, this to amounts to $64.2 billion at today's population or an increase of roughly 0.3 percent in the valuation of the world's land resources. This gain arises despite the fact that, in the baseline scenario, the technology does not become commercially viable until 2035. Alternative scenarios considered include: diminished crop yield growth owing to adverse climate impacts, flat energy prices, low economic growth, and high population growth, as well as greenhouse gas regulation. The most important factor driving second-generation valuation is greenhouse gas regulation, which more than doubles the social value of this technology. Flat energy prices essentially eliminate the value of second-generation technology to society, and high population growth reduces its value because of the heightened competition for land for food production.
format	Publications & Research :: Policy Research Working Paper
author	Hertel, Thomas W. Steinbuks, Jevgenijs Tyner, Wallace E.
author_facet	Hertel, Thomas W. Steinbuks, Jevgenijs Tyner, Wallace E.
author_sort	Hertel, Thomas W.
title	What is the Social Value of Second-Generation Biofuels?
title_short	What is the Social Value of Second-Generation Biofuels?
title_full	What is the Social Value of Second-Generation Biofuels?
title_fullStr	What is the Social Value of Second-Generation Biofuels?
title_full_unstemmed	What is the Social Value of Second-Generation Biofuels?
title_sort	what is the social value of second-generation biofuels?
publisher	World Bank Group, Washington, DC
publishDate	2015
url	http://documents.worldbank.org/curated/en/2014/12/23056383/social-value-second-generation-biofuels http://hdl.handle.net/10986/21137
_version_	1764447745921253376
spelling	okr-10986-211372021-04-23T14:04:01Z What is the Social Value of Second-Generation Biofuels? Hertel, Thomas W. Steinbuks, Jevgenijs Tyner, Wallace E. ACCESS COSTS AGRICULTURAL ECONOMICS AGRICULTURAL OUTPUT AGRICULTURAL PRODUCTION AGRICULTURAL USES AGROCHEMICALS ALLOCATION ALTERNATIVE SCENARIOS ANNUAL EMISSIONS ANNUAL ENERGY OUTLOOK APPROACH BEQUEST VALUE BIO-OIL BIOMASS BIOMASS CONVERSION BIOMASS FEEDSTOCK BIOMASS TO ENERGY CAPITAL COST CAPITAL COSTS CARBON CARBON EMISSIONS CARBON FLUXES CARBON FOOTPRINT CELLULOSIC BIOMASS CELLULOSIC FEEDSTOCK CELLULOSIC FEEDSTOCKS CHEMICAL PROCESSES CLIMATE CLIMATE CHANGE CLIMATE CHANGE IMPACTS CLIMATE POLICIES CLIMATE POLICY CLIMATE STABILIZATION CO2 COMBUSTION CONSUMER DEMAND CONSUMPTION OF ENERGY CONVERSION OF BIOMASS CORN STOVER COST ESTIMATES COST OF FEEDSTOCK COST OF PRODUCTION CRUDE OIL CRUDE OIL PRICE DECISION MAKING DEFORESTATION DEMAND FOR ENERGY DEMAND FOR ENERGY SERVICES DIESEL ECONOMIC GROWTH ECONOMIC VALUE ECONOMICS ECOSYSTEM ECOSYSTEMS EFFICIENT EQUIPMENT EFFICIENT USE ELECTRICITY EMISSIONS EMISSIONS FROM DEFORESTATION EMISSIONS FROM LIVESTOCK EMISSIONS MITIGATION EMISSIONS TARGETS ENERGY ECONOMICS ENERGY EXTRACTION ENERGY INFORMATION ADMINISTRATION ENERGY POLICY ENERGY PRICE ENERGY PRICES ENVIRONMENTAL ENVIRONMENTAL IMPACTS ENVIRONMENTAL RESEARCH EQUILIBRIUM ETHANOL EXPENDITURES EXTERNALITIES FAST PYROLYSIS FEEDSTOCK FEEDSTOCK COST FEEDSTOCK COSTS FEEDSTOCKS FERTILIZERS FOOD PRODUCTION FOREST FOREST AREA FOREST AREAS FOREST CARBON FOREST CARBON SEQUESTRATION FOREST SINKS FORESTRY FORESTRY ACTIVITIES FORESTRY PRODUCTS FORESTRY SECTOR FORESTS FOSSIL FOSSIL FUEL FOSSIL FUEL PRICES FOSSIL FUELS FUEL CONSUMPTION FUEL CONVERSION FUEL PRICES GAS TECHNOLOGY GASOLINE GENERATION GHG GREENHOUSE GREENHOUSE GAS GREENHOUSE GAS EMISSIONS HYDROCARBONS HYDROGEN INCOME INPUT PRICES LABOR COSTS LAND COVER CHANGE LAND RESOURCES LAND USE LAND USE DECISIONS LIQUID FUEL LIQUID FUELS LIVESTOCK PRODUCTS METHANE METHANE EMISSIONS NATURAL FORESTS NATURAL GAS NATURAL RESOURCES NITROUS OXIDE NITROUS OXIDE EMISSIONS OIL OIL EQUIVALENT OIL MARKETS OIL PRICE OIL PRICE SCENARIO OIL PRICES PASTURE LAND PASTURES PETROLEUM PETROLEUM PRICES PETROLEUM PRODUCTS POLICY ANALYSIS POLICY IMPLICATIONS POLICY MAKERS POPULATION GROWTH PRESENT VALUE PRODUCTIVITY GROWTH PYROLYSIS RENEWABLE FUEL RENEWABLE FUELS RESOURCE ECONOMICS RICE PRODUCTION RISKS OF CLIMATE CHANGE SUBSTITUTION SUSTAINABLE DEVELOPMENT TECHNOLOGICAL CHANGE TECHNOLOGICAL PROGRESS TEMPERATURE TIMBER TOTAL COST TOTAL COSTS TRANSPORTATION FUELS UNCERTAINTIES UTILITY FUNCTION WAGES WELFARE FUNCTION WOOD PRODUCTS WORLD CRUDE WORLD ENERGY WORLD ENERGY OUTLOOK What is second-generation biofuel technology worth to global society? A dynamic, computable partial equilibrium model (called FABLE) is used to assess changes in global land use for crops, livestock, biofuels, forestry, and environmental services, as well as greenhouse gas emissions, with and without second-generation biofuels technology. The difference in the discounted stream of global valuations of land-based goods and services gives the value of second-generation technology to society. Under baseline conditions, this to amounts to $64.2 billion at today's population or an increase of roughly 0.3 percent in the valuation of the world's land resources. This gain arises despite the fact that, in the baseline scenario, the technology does not become commercially viable until 2035. Alternative scenarios considered include: diminished crop yield growth owing to adverse climate impacts, flat energy prices, low economic growth, and high population growth, as well as greenhouse gas regulation. The most important factor driving second-generation valuation is greenhouse gas regulation, which more than doubles the social value of this technology. Flat energy prices essentially eliminate the value of second-generation technology to society, and high population growth reduces its value because of the heightened competition for land for food production. 2015-01-07T21:27:26Z 2015-01-07T21:27:26Z 2014-12 http://documents.worldbank.org/curated/en/2014/12/23056383/social-value-second-generation-biofuels http://hdl.handle.net/10986/21137 English en_US Policy Research Working Paper;No. 7142 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Group, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research

What is the Social Value of Second-Generation Biofuels?

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