This morning at the National Ethanol Conference, Bob Dinneen, Renewable Fuels Association, gave his annual State of the Ethanol Industry Speech in front of over 1,000 attendees. He said that the domestic ethanol industry remains strong and touted its ability to successfully navigate the vagaries of the markets and overcome the perils of policy uncertainty.
“The strength of the U.S. ethanol industry is seen in its record production – 14.7 billion gallons, its record blending demand – 13.75 billion gallons, record feed production – 40 million metric tons, and record greenhouse gas reductions – 41.2 metric tons,” said Dinneen. “Those aren’t the stats of an industry in retreat, that’s an industry confident, defiant, and prepared to weather any storm.”
Dinneen called the U.S. ethanol industry the “cornerstone” of the rural economy, noting that it added $44 billion to the nation’s Gross Domestic Product and paid $10 billion in taxes last year. He drew a sharp contrast with what he characterized as the “boom and bust cycles” of oil extraction which, he said, can wreak havoc on economically-vulnerable communities.
You can read his full speech here.
You can listen to Bob’s speech here:Speech on State of Ethanol Industry - Bob Dinneen, RFA