Some see biofuel as a way to lessen our dependence on foreign oil and slow global warming, but a new study by economists at Oregon State seems to say: “Not so fast.”

Among the conclusions in the study’s summary:

• “Per unit of energy, corn ethanol is estimated to cost 750 percent more than gasoline; canola biodiesel is estimated to cost 125 percent more than petroleum diesel; and the cost of cellulosic wood-based ethanol (which the researchers said is not yet commercially feasible) is nearly 200 percent higher than gasoline.”

• Various methods of controlling emissions of the greenhouse gas carbon dioxide cost around $50 per ton. The cost estimate is $10,700 per ton by using corn-ethanol; $580 a ton for biodiesel, and $350 a ton for wood-based ethanol. “Hence, other policies aimed at reducing greenhouse gas emissions appear to be significantly more cost-effective than a shift to these three biofuels.”

[Albany Democrat-Herald]