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We have several key conclusions:(1) Biofuels are diverse and evolving; (2) Greenhouse gas (GHG) benefits vary significantly across various types of biofuels and are dependent on market conditions and policy situation; (3) Increase in income in the developing world would increase the demand for both food and fuel; (4) A diverse set of policies, which has been introduced or proposed, impacts biofuels directly; and (5) Much of the impact assessments of biofuels thus far are exante estimates based on either optimization or equilibriummodels. The shortterm economic impacts of biofuels will depend on a variety of factors such as the harvest in any given year, the oil price, economic growth, strength of thedollar, and level of inventory. The longterm impacts will depend on factors such as investment in technological change, pop\u00aculation and economic growth, climate change, and long-term policies toward energy, agriculture, and the environment. The biofuel policy debate is likely to be an ongoing one in the near future.<\/jats:p>","DOI":"10.1561\/0700000029","type":"journal-article","created":{"date-parts":[[2008,10,27]],"date-time":"2008-10-27T06:22:46Z","timestamp":1225088566000},"page":"165-272","source":"Crossref","is-referenced-by-count":40,"title":["Environmental, Economic and Policy Aspects of Biofuels"],"prefix":"10.1108","volume":"4","author":[{"given":"Deepak","family":"Rajagopal","sequence":"first","affiliation":[{"name":"University of California Energy and Resources Group, , ,","place":["Berkeley, USA"]}]},{"given":"David","family":"Zilberman","sequence":"additional","affiliation":[{"name":"University of California Department of Agricultural and Resource Economics, , ,","place":["Berkeley, USA"]}]}],"member":"140","published-online":{"date-parts":[[2008,10,14]]},"reference":[{"key":"2026032613565541800_ref001"},{"key":"2026032613565541800_ref002","volume-title":"Report to the Farm 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