Some biofuel critics continue to claim corn ethanol is “not economical.” Perhaps they haven’t noticed that wholesale ethanol prices have been an average of $0.71 per gallon lower than wholesale gasoline prices so far this year. Or maybe they didn’t notice that for the first time in nearly eight years, a bushel of corn—the primary input in the ethanol process—costs less than a gallon of gasoline. The price of a 56-pound bushel of corn, which yields 2.8 gallons of ethanol, averaged just $3.57 in July, while the national average price for a gallon of regular gasoline hit $3.61.
Geoff Cooper breaks down why the conclusions from the new CBO report on the RFS are largely based on a careless analysis that relies on unsupported assumptions.
U.S. ethanol shipments in April totaled 66.4 million gallons (mg), down 21% from March. Imports for the month totaled 15.9 mg, the highest level since September 2013.
James Conca’s recent article in Forbes badly mischaracterizes the recent IPCC reports and rehashes long-disproven myths and misinformation about corn ethanol. RFA responded with facts.