Abstract
The study gives an overview of raw materials and biofuel generation, markets, production, and regulation. The major aim of this study was to reveal the impacts of biofuel production on international commodity trade. According to the results of the country-level regressions, the export of corn and sugar cane have generally negatively impacted ethanol production. This effect was positive at the global level which indicates that some of the imported raw materials are used for ethanol production. Although the explanatory power of the models was relatively high (from 0.35 (EU) to 0.94 (USA)), none of models proved to be significant, even at the 10% level. These values were higher for the biodiesel models (from 0.53 (USA) to 0.97 (Brazil)) and the EU model results were significant at the 5% level. The export of raw materials had a positive impact on biodiesel production. This implies that some part of the biodiesel was produced from the imported raw materials. The export of processed products (different oils) had a negative impact on biodiesel production, as they are normally used for other purposes.
Highlights
The fossil energy resources of the Earth are finite, and their continued use causes ever-lasting damage to the environment through global warming and pollution [1]
Within a very short period of time, humanity must switch to the use of renewable energy sources with as little further waste and degradation to soil, water, and air as possible [2]
The fossil energy resources of the Earth are finite; humanity must switch to the use of renewable energy sources
Summary
The fossil energy resources of the Earth are finite, and their continued use causes ever-lasting damage to the environment through global warming and pollution [1]. Within a very short period of time, humanity must switch to the use of renewable energy sources with as little further waste and degradation to soil, water, and air as possible [2]. Renewable energies may provide a long-term solution to our energy needs and, to mitigate climate change in the short-term, several technical issues remain to be overcome. Carbon dioxide emissions remain a relevant concern as a major greenhouse gas ( referred to as GHG) which significantly contribute to global warming. Biofuels could minimize this issue, as only previously absorbed carbon dioxide is released through burning, such that in this regard they can be produced in a sustainable way
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