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Oil prices and the impact of the financial crisis of 2007–2009

Dates

Year
2011

Citation

Bhar, R., and Malliaris, A. G., 2011, Oil prices and the impact of the financial crisis of 2007–2009: Energy Economics, v. 33, iss. 6, 5 p.

Summary

The price of oil could play a significant role in influencing the expansion of biofuels, but this issue has yet to be fully investigated in the literature. Using a global computable general equilibrium (CGE) model, this study analyzes the impact of oil price on biofuel expansion, and subsequently, on food supply. The study shows that a 65% increase in oil price in 2020 from the 2009 level would increase the global biofuel penetration to 5.4% in 2020 from 2.4% in 2009. If oil prices rise 150% from their 2009 levels by 2020, the resulting penetration of biofuels would be 9%, which is higher than that would be caused by current mandates and targets introduced in more than forty countries around the world. The study also shows that aggregate [...]

Contacts

Communities

  • Western Energy Citation Clearinghouse

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Additional Information

Identifiers

Type Scheme Key
DOI WECC []
ISSN WECC 01409883

Citation Extension

journalEnergy Economics
parts
typePages
value5
typeVolume
value33
typeIssue
value6
citationTypeJournal Article

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