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Essay / Research Paper Abstract
This 5 page paper considers the economics of developing bio-fuels and considers how the increased efficiency and environmental aspects may help with the development of the technology. Economic topics discussed include supply and demand, market structure and the need for government interference where a market has the potential to fail. The bibliography cites 4 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEbiofeul.rtf
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Unformatted sample text from the term paper:
impact and prevent large fuel shortages and fissile fuels run out. H0 = The free market will provide the demand and motivation for commercial interests to develop bio fuels
without the need for any government intervention. There is little doubt that a replacement for fossil fuels needs to be found. The
reserves are exhaustible and once gone cannot be replaced, however, this is also a case where the market forces are not supporting the development of the new fuels due to
current market conditions. The prices of oil are controlled with the use of a cartel, OPEC, which once controlled a large amount of the oil producers, may be argued as
used to keep prices up; however during certain times they have also upped production in order to retain prices from rising. The arguments have been that to support the development
of the indicatory there has been the need to ensure that there are profits. However as time has gone by many countries
have exceeded their agreed quotas and more oil producing countries exist which are not a part of OPEC. Therefore the fossil fuel industry may be seen as an oligopoly with
the concerted effort of suppliers to work in order to control the supply The need for an alternative has seen the development of bio fuels. However, these are not
yet a realistic alternative and the development is going to large levels of resources, it is not only matter of development for the investment and the knowledge that in the
long term this may be a viable fuel, but the need for the short term investment. Looking at consumer behaviour and the prices that bio fuels would have to charge
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