This chapter examines the first and last of the 4 motivations from institutional and quantitative viewpoints. The institutional section discusses the context in which offsets may be needed and the role that agriculture and forestry may play with an emphasis on biofuels. The quantitative portion extends the work of McCarl et al. [see
Annals of Operations Research(2000) 94, 37-55] and Schneider and McCarl [see Environmental and Resource Economics(2003) 24, 291-312] to further consider the potential of biofuel and other possible agriculture/forestry greenhouse gas (GHG) emission offset alternatives in the face of a range of GHG offset prices emphasizing dynamics.