Biofuel Proposal

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Biofuel Proposal

Executive Summary: The power and prosperity of The United States of America will be severely hindered if changes are not taken within the next few years to reduce its dependency on oil and improve its usage of biofuel. The process to become less dependent on foreign energy sources will be crucial for the stability and growth of the nation in the upcoming years. Re-examining subsidies and tariffs are essential if any positive change is to be made.

A Shift Away From Oil Is Crucial

The consequences of the United States’ reliance on oil have brought together the nation’s leaders in ways that few issues have in decades. The call for action to deliver advanced biofuels and efficient flex-fuel vehicles now comes from national security experts and business leaders down to consumers. They have all come to the conclusion that as each day passes, more of the nation’s wealth is lost and complacency thwarts critical national policy changes that are urgently needed1. The advantages of biofuels are widespread. First and foremost, the United States must move away from traditional oil consumption. Oil is the largest sole contributor to our trade deficit. Records state that more than $1 billion a day in funds are sent to oil exporting countries1. Compounded with ongoing conflicts in the Middle East as well as other oil producing nations, this has left America indebted to much of the world. By transitioning from fossil fuels to biofuels, the United States can liberate itself from foreign dependence.

Aside from the dependence on foreign nations, bio-fuels pose environmental advantages to producers and consumers. They are a relatively clean burning source of energy unlike oil, which accounts for more than 32 percent of...

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...ncreasing day by day7. The third factor, relating and supporting industries explains that when local industries compete against one another, this spurs the emergence of cost effective and innovative inputs. This very well indicates that in the future biofuel demand will lead to more innovative, cheaper production. The last factor, firm strategy, structure, and rivalry states that over the long run more local rivalry is better since it puts pressure on firms to innovate and improve.

In addition to the diamond model, the Leontief Paradox has proven that even though the U.S. is relatively abundant in capital compared to other nations it still exports less capital intensive good and imports more of it. So even though the U.S may fall short on corn supply it can find new ways to produce biofuels. The problem right now is that new technology has not been innovated.

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