U.S. to beat Brazil as world's leading ethanol exporter
With U.S. corn-based ethanol relatively inexpensive, U.S. ethanol producers have been able to win out contracts to supply countries that previously imported ethanol from Brazil. U.S. farmers have also benefited from Brazil eliminating its 20-percent import duty and lower European tariffs on ethanol.
Since the federal renewable fuel mandate classifies sugarcane ethanol as an advanced biofuel, but corn-based ethanol as only a biofuel, it's quite likely the United States will continue to export corn-based ethanol to Brazil while at the same time importing mass quantities of the sugarcane-based biofuel from Brazil. This looks like we're moving towards a future that puts us right back where we started: relying on foreign fuel.
- Biggest automotive sales disappointments
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models