Response to Santeramo and Searle (2019)

In a recent article, Santeramo and Searle (2019: Henceforth San-Sea) argued that the linkages between the soy oil and palm oil markets and their land use consequences could negatively affect the climate performance of the US Renewable Fuel Standard (RFS) and California's Low Fuel Standard. To support their arguments, San-Sea estimated the own and cross-price elasticities for supplies of soy and palm oils in the US. These authors refer to a valid...