Ethanol Producers Share Strategies for Success in FEW Panel
by Holly Jessen (Ethanol Producer Magazine) Four executives of ethanol plants gathered on stage during the general session June 5 at the International Fuel Ethanol Workshop & Expo (FEW) to have a conversation about running successful companies. The executive of one family owned company, Marquis Energy Inc., joined the CEOs of three companies started by farmer cooperatives in addressing “Holding Strong: How U.S. Ethanol Producers are Achieving Profitability without the Volumetric Ethanol Excise Tax Credit (VEETC.)”
While some predicted doom and gloom for the ethanol industry following the expiration of VEETC, that hasn’t come true for the industry. There were some short term effects, with blenders buying up more ethanol at the end of the year before the tax credit expired, but Ray Defenbaugh, president and CEO of Big River Resources LLC, said it was ultimately a good thing for the industry. The tax credit was benefiting blenders, while the ethanol industry was “catching flack” for it. “Right now it doesn’t appear to be as dramatic an effect as some predicted,” he said. READ MORE
