Market Context for Biofuels Microeconomics - Completed
This project collected historical data on production and trade of ethanol, biodiesel, and oil, and fit the data to economic models in order to extrapolate for future market performance. The group paid particular attention to potential market fluctuations in the 10-30-year time frame, especially pertinent to introduction and marketing of major new biofuels technologies. Projected overall market price fluctuations are an essential input to microeconomic analyses of the detailed flow of materials and money in regional biofuels production and consumption networks. The project developed probability distributions for a range of economic and political factors that influence market conditions.