Alternative Fuel for Automobiles

Paper Summary:

This paper explains the differences between three alternative automobile fuels, explains why it is preferable to use these fuels instead of oil and looks at how the alternative fuels are produced and their cost efficiency.

From the Paper:

"Alcohol can be blended with gasoline for use as transportation fuel and may be produced from a wide variety of organic feedstock (Alcohol pp). The most common alcohol fuels are methanol, which can be produced from coal, natural gas, wood and organic waste, and ethanol, which is usually made from agricultural plants containing sugar (Alcohol pp). Twelve percent of the nation's motor fuel is blended with ethanol (Alcohol pp). "Producers can lock in prices on the futures market, using their known production cost figures, rather than relying on the volatile spot market" (Alcohol pp). In 1998, the federal government extended federal ethanol fuel excise tax incentives through the year 2007, meaning that the fuel blender can take either an income tax credit of 54 cents per gallon of ethanol used, or an exemption from the excise tax of 5.4 cents per gallon of 10 percent blended fuel (Alcohol pp). "

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