Back in March of 2011, a Valero representative posted this response to a question on a Yahoo! Finance message board:
This year, ethanol producers in the United States turned 2.15 bushels of U.S. corn into the biofuel. This is three times as much as was converted in 2001, according to an article in Minnesota's Pioneer Press. Add to this Friday's announcement from the USDA that corn stocks are down seven percent compared to last year (which was a record high year, btw) and you begin to see where the ethanol boom is taking us.
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