U.S. ethanol production continues to grow at a record pace, but the supply is exceeding demand by 24-thousand barrels per day.
According to the latest statistics from the Energy Information Administration, ethanol production in March averaged more than 847-thousand barrels per day. That’s a 32 percent increase from March of 2009. Ethanol demand also reached an all-time high of 823-thousand barrels per day, an increase of 180-thousand from one year ago.
Reacting to the latest numbers, Renewable Fuels Association president Bob Dinneen again urged the Obama administration to move swiftly in approving the use of a higher level of ethanol blends for all vehicles. Dinneen expressed frustration that America’s ability to utilize an excellent renewable alternative to oil is artificially capped while millions of gallons of oil spill into the Gulf of Mexico.
The report also shows the U.S. exported over 40 million gallons of ethanol in March, while ethanol imports totaled just over one-million gallons.
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