BBE paper bioproduct engineering

Essay by dys1991College, UndergraduateA-, October 2014

download word file, 1 pages 0.0

BBE 3503

Youngmin Park

Reflection (Biomass Trade)

There seems to be a statistical chaos regarding to global energy related trade patterns because of disintegration of the industrial trade codes, and data gaps resulted from different volumes across the database. Noticing that the disintegration of statistical inferences can contribute to one of the factors of trade was interesting for me to find out. Necessity of unified data, which I didn't think of, is one of the key ways to further reinforce international biofuel trade. The implication was that not only internal or economic factors, but also a thorough adjustment of various sources of data should be followed in order for the U.S to further develop biofuel industry.

In addition, European Union has bountiful forest resources, accordingly, has more potential and driving forces to develop solid biofuel. However, the United States don't have as much infrastructure and availability as European Unions, which suggests need of international trade foundation.

Also, European Unions had solid foundation of supporting policies and taxation incentives on households using biofuel commodities. Furthermore, endeavor in supply side was constructed in the European Union such as helping reduce the production cost including second-hand stimuli through research and development. This supportive atmosphere regarding to biofuel industry could accelerate and promote the biofuel in European Union in both demand and supply aspect. In order for the United States to catch up this well-established structure of the European Union, the government's assistant such as giving incentives to the households using biofuels, aiding firms to reduce production cost, and establishing solid biofuel-friendly policies would be highly recommended.

Since the United States is not an initiator of this market, imitating the pioneer like EU in the biofuel industry would be a good strategy. Market driven forces are already determined, strengths are already proven, and...