Monday, November 5, 2007 - 2:40 PM
109-4

Economic Oportunities and Challenges for Agriculture From the Expansion of the Demand for Biofuels.

Daniel G. De La Torre Ugarte, University of Tennessee, 310 Morgan Hall, 2621 Morgan Circle Drive, Knoxville, TN 37996-4518

Using crops and crop residues to develop alcohol as a fuel provides an excellent opportunity for agriculture to strengthen its position in the American economy. Crop demands will increase along with their price; and, as with fuel, we may never see the lower prices again. On the other hand, crop supply will also increase in the form of competition from other producers and from other countries. Supply-and-demand market forces and policy issues will be discussed.