Ethanol Supply Will Meet Demand

According to a report released by the Energy Information Administration (EIA) today, ethanol production is anticipated to average nearly 17 million gallons a day.

In an article from Reuters, “Unlike last summer when refiners had problems switching over to mixing ethanol with gasoline, more U.S. ethanol plants have come online, boosting supply by close to 28 percent.

“U.S. ethanol production this summer is forecast to average 399,000 barrels a day, up from 313,000 barrels a day last summer, the EIA said.”

The bad news:  gasoline prices are expected to average $2.81, down 3 cents from 2006.