TY - CPAPER AB - Part of President Bush’s energy policy is to encourage research aimed at reducing the cost of biomass-based motor fuels to become competitive with petroleum-based fuels. We use a dynamic, CGE model to investigate the economy-wide implications of successful implementation of this policy. We find in the long-run, 2020, that the U.S. would experience significant benefits arising from: (1) substitution of biomass whose price is likely to fall in the long-run for crude petroleum whose price is likely to rise; (2) reduction in the world price of crude petroleum; (3) an increase in employment; and (4) an increase in export prices. AU - Dixon, Peter B. AU - Osborne, Stefan AU - Rimmer, Maureen T. DA - 2007 DA - 2007 ID - 331569 KW - Resource/Energy Economics and Policy KW - Agricultural and Food Policy KW - Domestic policy analysis KW - Dynamic modeling L1 - https://ageconsearch.umn.edu/record/331569/files/3271.pdf L2 - https://ageconsearch.umn.edu/record/331569/files/3271.pdf L4 - https://ageconsearch.umn.edu/record/331569/files/3271.pdf LA - eng LA - English LK - https://ageconsearch.umn.edu/record/331569/files/3271.pdf N1 - Presented at the 10th Annual Conference on Global Economic Analysis, Purdue University, USA; Energy & Environment Vol 18 No 5 2007auto,394 N2 - Part of President Bush’s energy policy is to encourage research aimed at reducing the cost of biomass-based motor fuels to become competitive with petroleum-based fuels. We use a dynamic, CGE model to investigate the economy-wide implications of successful implementation of this policy. We find in the long-run, 2020, that the U.S. would experience significant benefits arising from: (1) substitution of biomass whose price is likely to fall in the long-run for crude petroleum whose price is likely to rise; (2) reduction in the world price of crude petroleum; (3) an increase in employment; and (4) an increase in export prices. PY - 2007 PY - 2007 T1 - The Economy-Wide Effects in The United States of Replacing Crude Petroleum with Biomass TI - The Economy-Wide Effects in The United States of Replacing Crude Petroleum with Biomass UR - https://ageconsearch.umn.edu/record/331569/files/3271.pdf VL - 2006 Y1 - 2007 ER -