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Boone Co. Iowa | Louis Dreyfus ethanol plant located in Grand Junction Iowa held a little gathering/lunch today for local corn growers - weather forecaster, as well as in-house market manager, and the President of BioFuels for Louis Dreyfus. (Their market person predicted 90.8 mil acres for corn and 77-78 on beans, I believe, for this group this a.m.)
The BioFuels fellow didn't say a whole lot, but basically said that the oil industry is scared of ethanol. Then he pointed out how much ethanol we (the US) are exporting to Brazil (I don't remember that number, but it is a lot and growing). The he mentioned that ethanol is now about 10% of the gasoline fuel in the US. Then he mentioned US Ethanol Industry is running about 90-95% capacity. Oil refineries are running 80-85% capacity. He'd also be more than happy if blender's credit went away. Those dollars go to blender's, not the ethanol plant. I did find it interesting that L. Dreyfus thinks that there is a big difference between older ethanol plants and newer ethanol plants (i.e. 2.5 gallons ethanol / bu. v. 2.7-2.8 gallons of ethanol / bu.) They made it sound like the older plants would have to be refurbished.
I find it very hard to believe that with a President from Illinois and AgSec from Iowa that anything happens to ethanol industry.
This is a pretty good propaganda page from the ethanol group.
http://ethanolrfa.3cdn.net/32b7ed69bd366321cb_r1m626lb0.pdf | |
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Government will not shut down the ethanol industry
