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Abstract
The U.S. appears committed to the ongoing use of ethanol biofuels. In order
to realize the desired benefits, ethanol production must continue to become more efficient.
Although many technologies have emerged to improve efficiency this article focuses on the role
that corn biotechnology might play. Biotechnology offers the potential to increase yields and
lower input use as well as aid the conversion of corn to ethanol. This could have a meaningful
impact on the energy balance and greenhouse gas emissions of ethanol production. This article
finds those impacts to be significant, although likely to be eclipsed by cellulosic biofuels.
However, the realization of any such benefits is conditioned by prevailing market and policy
conditions. In a world where the market is less constrained by policy, increased yields afforded
through biotechnology would increase corn production, which leads to lower corn price and
larger ethanol production volume. When expected policies, most notably the Renewable Fuel
Standard, are considered the impacts of biotechnology change. The Renewable Fuel Standard
effectively limits the amount of corn based ethanol that is consumed as it shifts production
towards cellulosic feedstocks. Despite the increase in corn production and reduced corn price
there are only marginal increases in ethanol production volume. Accordingly, the RFSs support
of competing biofuels might limit some dimensions of the ethanol industry including its ability to
fully benefit from corn biotechnologies.