Could Bioenergy Be Used to Harvest the Greenhouse: An Economic Investigation of Bioenergy and Climate Change?

Abstract

Bioenergy interest has been greatly stimulated by the fuel price rises in the late 2000s. Bioenergy is seen as a way to protect against the rising fossil fuel prices and the political insecurity of importing petroleum from the Middle East. Furthermore, growing evidence suggests that combustion of fossil fuels is precipitating climate change (Intergovernmental Panel on Climate Change 2007). Thus, at present three factors may influence the prospects for bioenergy: (1) increases in crude oil prices, (2) concerns for national energy security matters, and (3) concerns for climate change and global warming.