Ethanol price fallout bringing gas prices down, down, down
While Nebraska certainly makes a lot of ethanol, I do not think that Pore got his facts right from Randy Klein, director of market development for the Nebraska Corn Board. Pore writes that Klein told him that now that Nebraska makes 1 billion gallons of ethanol a year, Nebraska is "completely self-sufficient energy-wise, especially with all vehicles in the state operate on 100 percent ethanol." Say what? That's just incorrect.
Still, I think we can take Pore's point that cheap ethanol making up 10 percent of the gasoline can make the overall price for that gas cheaper. Farmers probably aren't happy about this, but if Citibank is correct, next year they'll be happy and everyone who buys gasoline won't be, not as much anyway.
[Source: Grand Island Independent]
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