Bio-oils produced from small-scale pyrolysis may have economic and environmental benefits for both densifying agricultural biomass and supplying local bioenergy markets with fossil energy alternatives to support state policies (e.g., Renewable Portfolio Standards). We analyze the life cycle greenhouse gas (GHG), energy, and cost tradeoffs for farm-scale bio-oil production via fast pyrolysis of corn stover feedstock and subsequent utilization for power generation in the state of Pennsylvania. We evaluate the life cycle ramifications of either cofiring the biochar coproduct with coal in existing power plants for energy generation, or using the biochar as a land amendment within the agricultural sector. The results show GHG emissions of 217 and 84 g CO2e per kWh of bio-oil electricity for coal cofiring and land amendment, respectively. Cofiring biochar with coal displaces more fossil energy than does land application. We discuss the potential for bio-oil and biochar penetrating near-term electricity markets ...