Corn Ethanol and US Biofuel Policy 10 Years Later: A Quantitative Assessment

We conduct meta-analyses of the estimated impacts of corn ethanol on food and fuel prices, as well as greenhouse gases, and analyze the implications for the balance of trade. The meta-analyses suggest that corn ethanol has minor effects on greenhouse gas emissions and significant yet moderate effects on food and fuel prices. However, corn ethanol has a relatively significant impact on fuel security in terms of reductions in the import of oil to the U.S. and its overall effect on the U.S. balance of trade.