21 February 2012 20:38 [Source: ICIS news]
HOUSTON (ICIS)--The US produced a record 13.9bn gal of ethanol in 2011, an industry group said on Tuesday.
That production helped create over 400,000 jobs, $30bn (€23bn) in household income and contributed $42.4bn to the US GDP, said a report by the Renewable Fuels Association (RFA).
“Many of the states with significant ethanol production have weathered the economic storm of recent years far better than other states,” said RFA president Bob Dinneen.
“As new technologies emerge and greater efficiencies are gained, the contribution of ethanol to the economy of the [US] will only continue to grow,” he added.
The RFA plans to release its full 2011 Ethanol Industry Outlook on Wednesday, coinciding with the National Ethanol Conference (NEC) taking place this week in Orlando, Florida.
While ethanol’s impact on the US economy will be a major theme at this year’s NEC, the conference will touch on many other subjects.
James Canton, the CEO and chairman of the Institute for Global Futures, will talk about “21st Century Energy Trends and the Marketplace” in the keynote speech on Thursday.
Later in the day, former presidential advisers Karl Rove and Robert Gibbs will discuss “Insider Perspectives on Election 2012 - The Presidency and Congress” during the luncheon address.
There will also be breakout sessions throughout the conference. Topics include emerging technology and the impact of ethanol on food prices.
($1 = €0.76)
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