Ethanol industry showing some signs of recovery
May 18, 2020 By Ken Anderson Filed Under: 2020 Events, COVID-19, News, Renewable Energy, Renewable Fuels
The president and CEO of the Renewable Fuels Association, Geoff Cooper, says the ethanol industry is showing some signs of recovery.
“It seems that the worst may be behind us as states begin to
ease stay-at-home restrictions and people begin to return to public spaces and
get back out on the roads,” Cooper says.
He says gasoline consumption last week, nationwide, was up
about 46 percent from where it was the first week of April. While that’s good
news, Cooper says the ethanol industry still has a long way to go to climb of
the hole caused by COVID-19.
“By our last count, there are still more than 60 ethanol
plants that are fully idle today and close to 75 or 80 facilities that are
still operating at a greatly reduced output rate.”
Cooper says ethanol production dropped from 16.5 billion gallons at the end of February to 8.2 billion at the end of the April.
Your email address will not be published.
Subscribe for our newsletter today and receive relevant news straight to your inbox!