Costs and Benefits of Mandatory Biofuel Blends in Transport Fuels

Report to Ministry of Economic Development

NZIER
8 Halswell St, Thorndon
PO Box 3479, Wellington
Tel: +64-4-472 1880
Fax: +64-4-472 1211
econ@nzier.org.nz
www.nzier.org.nz

List of Tables

• Summary of Mandatory Blend Options: Thousands of New Zealand Dollars (2004), PJ Used in 2012, Millions of Litres of Biofuels Required
• Table 1: Diesel vs. Biodiesel Blend Pump Prices: New Zealand Cents per Litre
• Table 2: Petrol vs. Ethanol Blend Pump Prices: New Zealand Cents per Litre, Assuming no Fuel Efficiency Loss from Using an Ethanol/Petrol Blend
• Table 3: Present Value Impacts of Biodiesel Blends: Thousands of New Zealand dollars (2004), PJ used in 2012
• Table 4: Resource Costs from Biodiesel Blends: Present Value (PV) Thousands of New Zealand Dollars, and % of GDP(1)
• Table 5: Required Supply of Biodiesel by Blend: Millions of Litres
• Table 6: Present Value Impacts of Ethanol Blends: Thousands of New Zealand Dollars (2004), PJ Used in 2012
• Table 7: BD3 vs. E3 Changes in Transport Fuel Prices: % Increase on BAU Transport Fuel Price (1)
• Table 8: Resource Costs from Ethanol Blends: Present Value Thousands of New Zealand dollars, and % of GDP(1)
• Table 9: Required Supply of Ethanol by Blend: Millions of Litres
• Table 10: Health Costs from Atmospheric Pollution and Weights Applied to Emission Reductions
• Table 11: Non-CO₂ Emission Reductions and Implied Price per Tonne of Emission Reduced: Costs, Benefits, and Emission Reductions are the Present Valued Sum of All Values over the Horizon of our Analysis. Implied Price is Average Annual Price.
• Table 12: Sectoral Inputs and Industry Size

List of Figures

• Figure 1: Tallow and Crude Oil Prices: New Zealand Dollars per Litre
• Figure 2: Tallow and Rapeseed Oil Prices: US$ per Metric Tonne
• Figure 3: Diesel and 5% Biodiesel Blend Pump Prices: New Zealand Dollars per Litre
• Figure 4: Ethanol, Sugar, and Crude Oil Prices: Rolling Annual Average US Dollar Spot Market Price
• Figure 5: Ethanol and Crude Price Forecast
• Figure 6: Petrol and 5% Ethanol Blend Pump Prices: New Zealand Dollars per Litre
• Figure 7: The Excess Burden of a Tax
• Figure 8: Excess Burden from Successive "Tax" Increases
• Figure 9: Transport Fuel Consumption Forecasts: Millions of Litres of Diesel (RHS) and Petrol (LHS)
• Figure 10: BAU Forecast of Transport CO₂ Emissions by Source: Kilo Tonnes of CO₂
• Figure 11: Structure of the New Zealand Oil Industry (Excluding Exploration)

List of Figures

• Figure 1: Tallow and Crude Oil Prices: New Zealand Dollars per Litre
• Figure 2: Tallow and Rapeseed Oil Prices: US$ per Metric Tonne
• Figure 3: Diesel and 5% Biodiesel Blend Pump Prices: New Zealand Dollars per Litre
• Figure 4: Ethanol, Sugar, and Crude Oil Prices: Rolling Annual Average US Dollar Spot Market Price
• Figure 5: Ethanol and Crude Price Forecast
• Figure 6: Petrol and 5% Ethanol Blend Pump Prices: New Zealand Dollars per Litre
• Figure 7: The Excess Burden of a Tax
• Figure 8: Excess Burden from Successive "Tax" Increases
• Figure 9: Transport Fuel Consumption Forecasts: Millions of Litres of Diesel (RHS) and Petrol (LHS)
• Figure 10: BAU Forecast of Transport CO₂ Emissions by Source: Kilo Tonnes of CO₂
• Figure 11: Structure of the New Zealand Oil Industry (Excluding Exploration)

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