AEM Spring 2008 Seminar 401 Warren Hall May 1, 2:30-4:00 pm
The Looming $20 Billion Mistake: How the New U.S. Biofuel Legislation Will Actually Subsidize Oil Consumption Harry de Gorter Department of Applied Economics and Management Cornell University Harry de Gorter is involved in deliberations regarding biofuels in the Doha negotiations and WTO trade disputes, and is advising the Food and Agriculture Organization of the United Nations and the World Bank on issues related to the impact of biofuels on food security and global warming. Abstract: Recent U.S. energy legislation follows other countries and imposes biofuel mandates while maintaining tax credits. The result is that the intended effects of tax credits are reversed: oil consumption is subsidized. This contradicts stated policy goals of reducing dependence on oil and improving the environment and rural incomes. The projected taxpayer costs of $20+ bil. in 2022 will therefore be pure waste while at the same time increase pollution, wealth transfers to the Middle East and farm input costs through higher oil prices. These insights are independent of the current public outcry over indirect land use effects and CO2 life-cycle analysis of biofuels. Meanwhile, developing countries have lost both ways through intensified food insecurity because of the food price spike while not being allowed to attain the full benefits because of biofuel import tariffs. This seminar will address the complex issues regarding the social costs and benefits of various biofuel policies and recommend policy options to better achieve public objectives. ======================================================= Brian M. Henehan, Senior Extension Associate Department of Applied Economics and Management (AEM) 202 Warren Hall Email: [EMAIL PROTECTED] Cornell University Voice: 607-255-8800 Ithaca, NY 14853-7801 Fax: 607-255-9984 Web Page: _http://aem.cornell.edu_ (http://www.aem.cornell.edu/) ---------------------------------------------------- Gay Nicholson, Ph.D. 607-533-7312 (home office) 607-279-6618 (cell) 1 Maple Avenue Lansing, NY 14882 [EMAIL PROTECTED] Sustainable Tompkins Program Coordinator w_ww.sustainabletompkins.org_ (http://www.sustainabletompkins.org/) Southern Tier Energy$mart Communities Regional Coordinator Cornell Cooperative Extension of Tompkins County 615 Willow Ave., Ithaca, NY 14850 [EMAIL PROTECTED] **************Need a new ride? Check out the largest site for U.S. used car listings at AOL Autos. (http://autos.aol.com/used?NCID=aolcmp00300000002851) _______________________________________________ For more information about sustainability in the Tompkins County area, please visit: http://www.sustainabletompkins.org/ RSS, archives, subscription & listserv information for: [email protected] http://lists.mutualaid.org/mailman/listinfo/sustainabletompkins free hosting by http://www.mutualaid.org
