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Ethanol Booming, Despite the Drawbacks
Just a couple of years ago American-made corn ethanol was vilified in the media. It was blamed for soaring food prices, and for causing food riots in Mexico. The UN even accused the U.S. of depriving the world of food.
What a difference a couple of years makes!
Today food production is soaring, especially corn. In fact, it’s up so much that farmers now worry about a price crash. And all this happened despite the fact that ethanol production is booming.
Back in 2007 when criticism of ethanol started to reach a fever pitch, the U.S. produced 5.5 billion gallons of ethanol at 110 refineries. This year the U.S. is on track to produce 13 billion gallons from 187 refineries located in 26 states. In other words, ethanol production more than doubled at the same time that food prices declined. Too bad the media doesn’t follow up on these things.
John McElroy is host of the TV program “Autoline Detroit” and daily web video “Autoline Daily”. Every week he brings his unique insights as a Detroit insider to Autoblog readers.
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Autoline on Autoblog with John McElroy originally appeared on Autoblog on Tue, 22 Jun 2010 16:27:00 EST. Please see our terms for use of feeds.
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