a "now-vital liquid",
on Wednesday has an entirely upbeat report on agribusiness giant ADM's recent profits, driven in part by surging prices of ethanol, completely ignoring the warning of an "
" we mentioned here yesterday. ADM is the largest producer of ethanol in the United States, even though bioproducts (like ethanol) only account for one-fifth of the company’s operating profits, the magazine says. Unsurprisingly, the increased price of ethanol is making gasoline-ethanol blends more expensive around the country.
Business Week also mentions, using information from the American Petroleum Institute, that the U.S. produced just under 4 billion gallons of ethanol and consumed 139.6 billion gallons of gasoline in 2005. ADM also announced they would increase domestic production of
. Keeping even a little bit up to date on how the international business community views ethanol gives us a window into the now-vital liquid’s future.
[Source: Business Week, thanks to Joel A.]