How Accurate is it to Define Biofuels as Renewable Energy? A Theoretical and Empirical Analysis

<p>Currently, energy needs are largely provided from fossil fuels. However, fossil fuels, which have a history of about two hundred years, tend to run out every day. On the other hand, the human population is growing rapidly. In this context, it is of great importance that the resources to mee...

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Autores principales:	Rıdvan Karacan, Ismail Baris, M. Emin Yardimci, Vedat Cengiz
Formato:	article
Lenguaje:	EN
Publicado:	EconJournals 2021
Materias:	Environmental sciences GE1-350 Energy industries. Energy policy. Fuel trade HD9502-9502.5
Acceso en línea:	https://doaj.org/article/b771c1d35f0f4022b4e40269d7bd0e94
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spelling	oai:doaj.org-article:b771c1d35f0f4022b4e40269d7bd0e942021-11-12T07:27:31ZHow Accurate is it to Define Biofuels as Renewable Energy? A Theoretical and Empirical Analysis2146-4553https://doaj.org/article/b771c1d35f0f4022b4e40269d7bd0e942021-11-01T00:00:00Zhttps://econjournals.com/index.php/ijeep/article/view/11935https://doaj.org/toc/2146-4553<p>Currently, energy needs are largely provided from fossil fuels. However, fossil fuels, which have a history of about two hundred years, tend to run out every day. On the other hand, the human population is growing rapidly. In this context, it is of great importance that the resources to meet the energy needs of the growing population are sustainable. Energy sources that meet this definition have entered the literature as “renewable energy”. In the current literature, biofuels are defined as renewable energy sources. Yet, biofuels are fuels of biological origin that depend on agricultural production. Further biofuel production takes place at the expense of the use of land allocated for food production. The reduction of land allocated to food production can directly affect the prices of agricultural products. Therefore, interest in biofuel production has decreased. Is it right to accept biofuels as renewable energy in this form? Our goal is to contribute to the literature by revealing a mistake that is known to be true. For this purpose, both theoretical and empirical analyses were conducted based on “biofuel production” and “agri-food prices”. The United States, the world's largest producer of biofuels, was selected for empirical analysis. In this context, the ARDL model of long-term and short-term relationships between variables was decoded using data containing 1992-2017. The findings revealed the existence of a long-term linear relationship between the two variables.</p><p><strong>Keywords</strong>: Biofuels, Agri-Food Prices, Renewable Energy.</p><p><strong>JEL Classifications: </strong>C1, Q4, Q3</p><p>DOI: <a href="https://doi.org/10.32479/ijeep.11935">https://doi.org/10.32479/ijeep.11935</a></p>Rıdvan KaracanIsmail BarisM. Emin YardimciVedat CengizEconJournalsarticleEnvironmental sciencesGE1-350Energy industries. Energy policy. Fuel tradeHD9502-9502.5ENInternational Journal of Energy Economics and Policy, Vol 11, Iss 6, Pp 250-255 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Environmental sciences GE1-350 Energy industries. Energy policy. Fuel trade HD9502-9502.5
spellingShingle	Environmental sciences GE1-350 Energy industries. Energy policy. Fuel trade HD9502-9502.5 Rıdvan Karacan Ismail Baris M. Emin Yardimci Vedat Cengiz How Accurate is it to Define Biofuels as Renewable Energy? A Theoretical and Empirical Analysis
description	<p>Currently, energy needs are largely provided from fossil fuels. However, fossil fuels, which have a history of about two hundred years, tend to run out every day. On the other hand, the human population is growing rapidly. In this context, it is of great importance that the resources to meet the energy needs of the growing population are sustainable. Energy sources that meet this definition have entered the literature as “renewable energy”. In the current literature, biofuels are defined as renewable energy sources. Yet, biofuels are fuels of biological origin that depend on agricultural production. Further biofuel production takes place at the expense of the use of land allocated for food production. The reduction of land allocated to food production can directly affect the prices of agricultural products. Therefore, interest in biofuel production has decreased. Is it right to accept biofuels as renewable energy in this form? Our goal is to contribute to the literature by revealing a mistake that is known to be true. For this purpose, both theoretical and empirical analyses were conducted based on “biofuel production” and “agri-food prices”. The United States, the world's largest producer of biofuels, was selected for empirical analysis. In this context, the ARDL model of long-term and short-term relationships between variables was decoded using data containing 1992-2017. The findings revealed the existence of a long-term linear relationship between the two variables.</p><p><strong>Keywords</strong>: Biofuels, Agri-Food Prices, Renewable Energy.</p><p><strong>JEL Classifications: </strong>C1, Q4, Q3</p><p>DOI: <a href="https://doi.org/10.32479/ijeep.11935">https://doi.org/10.32479/ijeep.11935</a></p>
format	article
author	Rıdvan Karacan Ismail Baris M. Emin Yardimci Vedat Cengiz
author_facet	Rıdvan Karacan Ismail Baris M. Emin Yardimci Vedat Cengiz
author_sort	Rıdvan Karacan
title	How Accurate is it to Define Biofuels as Renewable Energy? A Theoretical and Empirical Analysis
title_short	How Accurate is it to Define Biofuels as Renewable Energy? A Theoretical and Empirical Analysis
title_full	How Accurate is it to Define Biofuels as Renewable Energy? A Theoretical and Empirical Analysis
title_fullStr	How Accurate is it to Define Biofuels as Renewable Energy? A Theoretical and Empirical Analysis
title_full_unstemmed	How Accurate is it to Define Biofuels as Renewable Energy? A Theoretical and Empirical Analysis
title_sort	how accurate is it to define biofuels as renewable energy? a theoretical and empirical analysis
publisher	EconJournals
publishDate	2021
url	https://doaj.org/article/b771c1d35f0f4022b4e40269d7bd0e94
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How Accurate is it to Define Biofuels as Renewable Energy? A Theoretical and Empirical Analysis

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