Ethanol eating up 20 percent of American corn
Next year, twenty percent of the corn grown in the United States will be turned into ethanol, according to this article from Reuters. The increase in ethanol production (ethanol will take 2.15 billion bushels of this year's corn crop as opposed to 1.6 billion bushels from last year) will also drive up price. The expected price of $3 a bushel will mean the highest season-average price in a decade, compounded by a reduction of the corn surplus in half by mid-2007. The 2.15 billion bushels of corn will make 6.5 billion gallons of ethanol. Joining corn in the upswing, soy and wheat futures were also up.
[Source: Reuters]
Reader Comments (Page 1 of 1)
Ari 2:34PM (5/15/2006)
See? Ethanol may not be the solution, but if I'm lining someone's pockets paying for fuel, I'd much rather it be American farmers than Saudi sheiks, and that's before you even figure in any reduction in emissions - how hard is it to figure out that Green is good business too? C'mon government...
Reply