Murray State University

Poster Title

STUDY 1: Costs of Alternative Fuel Production

Institution

Murray State University

Abstract

The future for alternative fuels looks bright. With international oil prices reaching record highs and prices at the pump soaring, the United States has turned to ethanol as a substitute for oil. However, is ethanol an economical solution to America's dependence on oil? This paper attempts to answer this question by analyzing the costs associated with producing ethanol and oil. My research begins by identifying the direct costs and externalities associated with each source of fuel. Then, regression analysis is used to compare the two sources of fuel. From the regression analysis, the more economical fuel source is identified.

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STUDY 1: Costs of Alternative Fuel Production

The future for alternative fuels looks bright. With international oil prices reaching record highs and prices at the pump soaring, the United States has turned to ethanol as a substitute for oil. However, is ethanol an economical solution to America's dependence on oil? This paper attempts to answer this question by analyzing the costs associated with producing ethanol and oil. My research begins by identifying the direct costs and externalities associated with each source of fuel. Then, regression analysis is used to compare the two sources of fuel. From the regression analysis, the more economical fuel source is identified.