• "Impacts of Energy Price and Ethanol Demand Shocks on U.S. Agriculture: A Partial Equilibrium Approach." Chenyang Hu, Wei Zhang, and Darrell Bosch.

Abstract Pressure for reducing carbon emissions and increasing reliance on renewable fuels may give rise to higher and more variable energy prices. This study examines possible implications of energy price and ethanol demand shocks for U.S. agriculture. Higher energy prices lead to higher crop prices and lower crop output in most farm regions. Livestock production declines while livestock value increases because of higher prices. Higher ethanol demand leads to expansion of corn production. Livestock production increases in response to higher ethanol demand due to the increased availability of by-products used for animal feed. Agricultural stakeholders need to be prepared to anticipate effects of possible energy price increases and ethanol policy changes.