Energizing Livelihoods: The Impact of the Biofuel Act in the Philippines
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As petroleum supplies remain in constant limbo, alternative sources are needed to meet energy demands. Biofuels have the potential to mitigate environmental impact, improve balance of payments though foreign exchange savings while providing countries with greater energy security. Considering that biofuels are expected to gain a larger share of the automotive fuel market, biofuels are pertinent to both developed and developing countries. It is necessary to conduct an economic analysis on a biofuel mandate since other countries are contemplating mandates and are moving towards a biofuel economy. This paper finds that coconut farm gate prices are higher but coconut workers’ wages decreased and farmers experienced an increase in volatility in their farm gate price during the time the Biofuel Act was in effect.