Campus Units

Economics

Document Type

Article

Publication Version

Published Version

Publication Date

9-2003

Journal or Book Title

Journal of Policy Modeling

Volume

25

Issue

6-7

First Page or Article ID Number

585

Last Page

608

DOI

10.1016/S0161-8938(03)00055-3

Abstract

The effects of likely regulatory and policy changes in the US gasoline and additives market are compared to a reference baseline. The baseline reflects existing EPA policies about fuel quality regulation and likely petroleum and gasoline expansions. The market and welfare effects are presented for implementing a renewable fuel standard; imposing a national ban on the additive MTBE; and removing the oxygen standard for reformulated fuel. Market and welfare estimates are based on adjusting product market demands and factor supplies. Product market and price analyses include quality-differentiated products, such as refinery gasoline, chemical additives and ethanol at the wholesale level; and gasoline grades in conventional, reformulated and oxygenated markets at the ratail level. Factor market analyses include supplies for petroleum, natural gas byproducts, and corn. The analysis includes the welfare cost of fuel to consumers and income in agriculture and the petroleum sector.

Comments

This article is from Journal of Policy Modeling 25 (2003): 585, doi: 10.1016/S0161-8938(03)00055-3.

Rights

Works produced by employees of the U.S. Government as part of their official duties are not copyrighted within the U.S. The content of this document is not copyrighted.

Language

en

File Format

application/pdf