生物柴油原料与原油价格关系——政策与页岩油扩张的影响

IF 1.3 Q3 AGRICULTURAL ECONOMICS & POLICY

Agricultural and Resource Economics Review Pub Date : 2022-04-25 DOI:10.1017/age.2022.6

K. Schaefer, R. Myers, Stanley R. Johnson, M. Helmar, Tony Radich

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引用次数: 2

摘要

摘要本文分析了美国和欧盟生物柴油原料和原油长期均衡价格关系中生物柴油激励和页岩油扩张的影响。我们发现，2005年美国能源政策法案大大提高了大豆油、菜籽油和玉米油价格对原油价格变动的反应性。然而，近年来，全球页岩油开采原油供应的扩张，抵消了美国生物柴油激励措施和混合规定的影响。在欧盟，2015年的间接土地利用变化指令大大降低了生物柴油原料价格对原油价格变动的反应性。

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Biodiesel feedstock and crude oil price relationships – The effects of policy and shale oil expansion

Abstract We disentangle the effects of biodiesel incentives and shale oil expansion on the long-run equilibrium price relationships among biodiesel feedstocks and crude oil in the United States (US) and European Union (EU). We find that the 2005 Energy Policy Act in the US substantially increased the responsiveness of soy oil, canola oil, and corn oil prices to crude oil price movements. However, in recent years, expansion in the global supply of crude oil from shale oil extraction has offset the effects of US biodiesel incentives and blending mandates. In the EU, the Indirect Land Use Change Directive of 2015 substantially reduced the responsiveness of biodiesel feedstock prices to crude oil price movements.

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来源期刊

Agricultural and Resource Economics Review AGRICULTURAL ECONOMICS & POLICY-

CiteScore

2.20

自引率

0.00%

发文量

审稿时长

19 weeks

期刊介绍： The purpose of the Review is to foster and disseminate professional thought and literature relating to the economics of agriculture, natural resources, and community development. It is published twice a year in April and October. In addition to normal refereed articles, it also publishes invited papers presented at the annual meetings of the NAREA as well as abstracts of selected papers presented at those meetings. The Review was formerly known as the Northeastern Journal of Agricultural and Resource Economics