Economic Impacts Resulting from Implementation of the RFS2 Program

Mon Jul 27 16:30:00 EDT 2015
By Robert Baron, Dr. Paul Bernstein, Alyssa Lipshultz, Dr. W. David Montgomery, et al.

The American Petroleum Institute (API) commissioned NERA Economic Consulting to conduct a study of the macroeconomic impacts of the US Renewable Fuel Standard (RFS2) Program on the transportation sector and the economy as a whole. As part of the analysis for this study, NERA employed its proprietary macroeconomic (NewERA) and transportation sector models. This report presents NERA's conclusions and asserts that “forcing” additional volumes of biofuels into the market at the volumes specified in the Energy Independence and Security Act of 2007 will result in severe economic harm.