« Ethanol Bites You In The Wallet | Home | Ethanol Production Inside Carbon Nanotubes »
Ethanol To Take 30 Pct Of U.S. Corn Crop In 2012: GAO
By Mr Ethanol | June 12, 2007
Reuters:
Almost a third of the U.S. corn crop will be used in five years to produce fuel ethanol, possibly raising animal feed costs for farmers and meat prices for consumers, a new government report warned on Monday.
Assuming U.S. ethanol production continues to expand to the Energy Department’s projected 11.2 billion gallons by 2012, about 30 percent of the corn crop will be needed for the fuel supply, according to the Government Accountability Office.
“Using more corn for energy production will likely exert additional upward pressure on corn prices, potentially influencing livestock feed markets and meat prices,” the GAO said in a report to Congress.
About 27 percent of this year’s corn crop will be used to make ethanol, according to the Agriculture Department. Corn prices are projected to average between $3 and $3.40 a bushel, making up an estimated 74% of the cost of producing ethanol, the GAO said.
The extra corn to make ethanol in 2012 will come from planting more acres by putting pastureland and idle land into production, planting corn where other crops like wheat were previously grown, or using corn that would be exported or used as livestock feed, the GAO said. However… read on.
Topics: Agriculture, Ethanol |
Related Posts
- Record Corn Production Forecast For Louisiana
- The Corn Supremacy
- Chinese Ethanol Experts Bound For Fiji
- GM Says Half Of Vehicles Will Run On Ethanol By 2012
- Corn Choice Could Be Key To Consumers
- Biofuel Booster Has A Point
- The Ethanol Hoax
- BullMarket.com Offers Investment Opinions on Seed Companies
- Corn, Ethanol And Water
- The Ethanol Scam
New Way Of Making Easy Money Online