Economics – Renewable Fuel
write a review, evaluation, and suggestions of the renewable fuel standard. Directions included in file “Economics4”. All the other files are handouts provided to assist.
Review and evaluate the performance of (critique) the renewable fuel standard during the first ‘renewable biofuel’ phase that has relied on expanding corn-based ethanol processing.
The review should introduce readers to the motivation, program characteristics, and experience with the program. The review should emphasize points that allow you to explain the benefits and shortcomings of the policy later (straw man concept). In particular, your review could discuss:
– the contribution of biofuels to greenhouse gas (CO2) reduction
– the determination of ethanol demand and the market for quota-right (RIN) certificates under a tradable permit system with a demand quota on (two) refiners, and the effect of a quota increase on ethanol demand and certificate pricing
– the effect of a decade of steady quota expansions on the corn market (price)
– unforeseen events with a big effect on markets that are related to biofuels markets
The RFS demand quantity required for use by refiners by year is:
Year RFS quantity (billion gallons)
2004 2.2
2005 2.7
2006 3.9
2007 4.5
2008 9.0
2009 10.5
2010 12.0
2011 12.6
2012 13.2
2013 13.8
2014 14.4
2015 15.0
The evaluation options include keeping the program in more or less its current form, modifying the program to avoid incidental problems that have occurred thus far, replacing the policy with another (possibly more efficient) policy, or eliminating the program for a free market. You can choose any one of these courses of action – your answer on this part will be judged on the strength of your economic and technical arguments. You should mention that course of action you propose in your introduction. Then explain the details and argue for your idea towards the end of the paper.
A graph showing US corn yields is included for your perusal. Include any appropriate supply and demand diagrams.
Carbon Dioxide (CO2 ) removals (+) and emissoins (-) associated with with ethanol and gasolineconsumption, in lbs CO2 / gallon
Alternative I: burn ethanol Alternative II:burn gasoline net: alternative I – alternative II
corn credit 19.76 soybean credit 10.85 1 8.91
ethanol gasoline
consumption -14.72 consumption -19.63 4.91
processing -1.64 refinery -3.8 2.16
natural gas -8.55 -8.55
0
fertilizer N2O -1.25 -1.25
Land Use Change (LUC) -10.85 total 6.18
(oppportunity cost calculation)
Total: -17.25 -23.43
-26.4 percent reduction in CO2 emissione with ethanol -26.4 percent
according to EPA (opportunity cost calculation)
1 included in LUC for EPA calculation, but included with alternative II for opportunity cost calculation
Alternative Calculation Procedures and associated Controversies:
1 Instead of my cattle/DG procedure, assume that DG replaces soy meal with little change in net emissions (adopted by EPA)
2 Instead of my domestic corn replace domestic soybeans, assume that Brazil cuts down rain forest and plants soybeans.
3 Instead of my gasoline gallon for ethanol gallon substitution, use heat content substitution rates.
Implicitly, I assume that ethanol is a small share, or a redesigned engine can get the same fuel economy
4 Some think that N2O fertilizer emission is much larger, due to fertilizer runoff int streams and rivers.
Compelling correspondence is essential to the achievement all things considered but since of the changing idea of the present working environments, successful correspondence turns out to be more troublesome, and because of the numerous impediments that will permit beneficiaries to acknowledge the plan of the sender It is restricted. Misguided judgments.In spite of the fact that correspondence inside the association is rarely completely open, numerous straightforward arrangements can be executed to advance the effect of these hindrances.
Concerning specific contextual analysis, two significant correspondence standards, correspondence channel determination and commotion are self-evident. This course presents the standards of correspondence, the act of general correspondence, and different speculations to all the more likely comprehend the correspondence exchanges experienced in regular daily existence. The standards and practices that you learn in this course give the premise to additionally learning and correspondence.
This course starts with an outline of the correspondence cycle, the method of reasoning and hypothesis. In resulting modules of the course, we will look at explicit use of relational connections in close to home and expert life. These incorporate relational correspondence, bunch correspondence and dynamic, authoritative correspondence in the work environment or relational correspondence. Rule of Business Communication In request to make correspondence viable, it is important to follow a few rules and standards. Seven of them are fundamental and applicable, and these are clear, finished, brief, obliging, right, thought to be, concrete. These standards are frequently called 7C for business correspondence. The subtleties of these correspondence standards are examined underneath: Politeness Principle: When conveying, we should build up a cordial relationship with every individual who sends data to us.
To be inviting and polite is indistinguishable, and politeness requires an insightful and amicable activity against others. Axioms are notable that gracious “pay of graciousness is the main thing to win everything”. Correspondence staff ought to consistently remember this. The accompanying standards may assist with improving courtesy:Preliminary considering correspondence with family All glad families have the mystery of progress. This achievement originates from a strong establishment of closeness and closeness. Indeed, through private correspondence these cozy family connections become all the more intently. Correspondence is the foundation of different affiliations, building solid partners of obedient devotion, improving family way of life, and assisting with accomplishing satisfaction (Gosche, p. 1). In any case, so as to keep up an amicable relationship, a few families experienced tumultuous encounters. Correspondence in the family is an intricate and alluring marvel. Correspondence between families isn’t restricted to single messages between families or verbal correspondence.
It is a unique cycle that oversees force, closeness and limits, cohesiveness and flexibility of route frameworks, and makes pictures, topics, stories, ceremonies, rules, jobs, making implications, making a feeling of family life An intelligent cycle that makes a model. This model has passed ages. Notwithstanding the view as a family and family automatic framework, one of the greatest exploration establishments in between family correspondence centers around a family correspondence model. Family correspondence model (FCP) hypothesis clarifies why families impart in their own specific manner dependent on one another ‘s psychological direction. Early FCP research established in media research is keen on how families handle broad communications data. Family correspondence was perceived as an exceptional scholastic exploration field by the National Communications Association in 1989. Family correspondence researchers were at first impacted by family research, social brain science, and relational hypothesis, before long built up the hypothesis and began research in a family framework zeroed in on a significant job. Until 2001, the primary issue of the Family Communication Research Journal, Family Communication Magazine, was given. Family correspondence is more than the field of correspondence analysts in the family. Examination on family correspondence is normally done by individuals in brain science, humanism, and family research, to give some examples models. However, as the popular family correspondence researcher Leslie Baxter stated, it is the focal point of this intelligent semantic creation measure making the grant of family correspondence special. In the field of in-home correspondence, correspondence is normally not founded on autonomous messages from one sender to one beneficiary, yet dependent on the dynamic interdependency of data shared among families It is conceptualized. The focal point of this methodology is on the shared trait of semantic development inside family frameworks. As such, producing doesn’t happen in vacuum, however it happens in a wide scope of ages and social exchange.
Standards are rules end up being followed when performing work to agree to a given objective. Hierarchical achievement relies significantly upon compelling correspondence. So as to successfully impart, it is important to follow a few standards and rules. Coming up next are rules to guarantee powerful correspondence: clearness: lucidity of data is a significant guideline of correspondence. For beneficiaries to know the message plainly, the messages ought to be sorted out in a basic language. To guarantee that beneficiaries can without much of a stretch comprehend the importance of the message, the sender needs to impart unmistakably and unhesitatingly so the beneficiary can plainly and unquestionably comprehend the data.>