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Call to Action for a Truly Sustainable Renewable Future
August 8, 2013 – 5:07 pm | No Comment

-Include high octane/high ethanol Regular Grade fuel in EPA Tier 3 regulations.
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Home » Business News/Analysis, Feedstocks, Field Crops, Green Jobs

Ethanol, the Key to Recovery of the Farm Economy

Submitted by on February 23, 2017 – 5:00 pmNo Comment

by Gary Truitt (Hoosier Ag Today)  The U.S. ethanol industry added $42.1 billion to the nation’s gross domestic product and supported nearly 340,000 jobs in 2016, according to a just released study. The report suggests that continued  growth of the renewables sector is the key to recovery  in the farm economy. Matt Merritt, with POET, the nation’s largest ethanol producer and operator of the majority of ethanol plants in Indiana, says the key to turning the current dismal farm economy around is growth in the ethanol sector, “Ethanol can play the most important role in overcoming the challenges that face rural America.”

Merritt points to history as his proof, “When the ethanol industry was growing and expanding, land prices were going up, corn prices were going up, that is when farm incomes were going up. I don’t think it is a coincidence that when the ethanol industry stopped growing that is when ag producers started facing their challenges.”

“The importance of the ethanol industry to agriculture and rural economies is particularly notable,” the study found. According to the analysis, the production and use of 15.25 billion gallons of ethanol last year also:

  • contributed nearly $14.4 billion to the U.S. economy from manufacturing;
  • added more than $22.5 billion in income for American households;
  • generated an estimated $4.9 billion in tax revenue to the Federal Treasury and $3.6 billion in revenue to state and local governments;
  • displaced 510 million barrels of imported oil, keeping $20.1 billion in the U.S. economy.  READ MORE and MORE (Globe Gazette)

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