As U.S. energy policy turns to bioenergy, and second-generation biofuels in particular, to foster energy security and environmental benefits, consideration should be given to the implications of climate risk for the incipient bioenergy industry. As a case-in-point, we review evidence from the 2012 U.S. drought, underscoring the risk of extreme weather events to the agricultural sector in general, and the bioenergy supply chain in particular, including reductions in feedstock production and higher prices for agricultural commodities and biofuels.
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As U.S. energy policy turns to bioenergy, and second-generation biofuels in particular, to
foster energy security and environmental benefits, consideration should be given to the
implications of climate risk for the incipient bioenergy industry. As a case-in-point, we
review evidence from the 2012 U.S. drought, underscoring the risk of extreme weather
events to the agricultural sector in general, and the bioenergy supply chain in particular,
including reductions in feedstock production and higher prices for agricultural
Large-scale modeling systems have long been viewed as potentially valuable tools for evaluating farm policy. They have received increased attention in recent years, in part because of the added complexity of U.S. farm programs and the fuller integration of the U.S. farm sector with nonfarm sectors and world agricultural commodity markets. Instability in the world economy, changed macroeconomic policies, credit and debt positions, and agricultural trade regulations have significant impacts on U.S. agriculture in the short run and more pronounced long-run implications.