http://research.stlouisfed.org/publications/red/ Federal Reserve Bank of St. Louis Regional Economic Development en-us Copyright 2006 Federal Reserve Bank of St. Louis webmaster@research.stlouisfed.org Mon, 06 Apr 2009 14:15:13 CDT Mon, 06 Apr 2009 14:15:13 CDT http://blogs.law.harvard.edu/tech/rss http://research.stlouisfed.org/rss/images/title.gif http://research.stlouisfed.org/publications/red/ 90 31 http://research.stlouisfed.org/publications/red/2009/01/Stowers.pdf Ethanol is vital to achieving greater American energy independence. It is today’s only viable and available fuel that can be substituted for gasoline. Unlike oil, ethanol is renewable—it will never run out. Mon, 06 Apr 2009 14:15:13 CDT http://research.stlouisfed.org/publications/red/2009/01/Gallagher.pdf This article reviews changes in markets, technologies, and policies that affect corn ethanol profit­ability and industry expansion. Historically, the corn ethanol industry was stimulated by high petro-fuel prices, successful corn and processing technology improvements, and government incentives, such as a blenders’ tax credit and mandated markets defined by the leaded fuel ban and reformulated fuel. Presently, the corn ethanol industry has expanded slightly beyond the point of a normal capital return, which is defined by limits on corn resource availability and ethanol marketing infrastructure. Mon, 06 Apr 2009 14:15:13 CDT http://research.stlouisfed.org/publications/red/2009/01/Tiffany.pdf For many years, U.S. policy initiatives and incentives have favored the production of ethanol from corn. The goals have been to increase corn prices and farmer income, enhance rural employment through encouragement of value-added businesses, increase energy security, and produce additives and/or fuels capable of reducing tailpipe pollutants and greenhouse gases. Mon, 06 Apr 2009 14:15:13 CDT http://research.stlouisfed.org/publications/red/2009/01/Henderson.pdf Since 2005, surging U.S. ethanol production has helped reshape the rural economy. Ethanol production has increased nonfarm activity in many rural communities. Moreover, increased ethanol production contributed to rising crop prices, increased net returns, and a jump in cropland values both nationally and regionally. However, rising crop prices cut livestock revenues by boosting feed costs. Mon, 06 Apr 2009 14:15:13 CDT