Last Thursday, the U.S. Energy Information Administration released ethanol production for the month of October and, once again, makers of the corn-based fuel set a record high. For October, U.S. production of ethanol shot up to 27,410,000 barrels, beating the 26,061,000 barrels made in September and shattering the previous record of 26,963,000 barrels produced back in August 2010.
Industry analyst Andy Lipow calculates that the amount of ethanol in U.S. gasoline averaged out to 9.5 percent for the month of October. The January-to-October results indicate that ethanol production averaged of 851,300 barrels per day, while consumption of the corn-based fuel came in at 825,700 barrels per day. In stark contrast, gasoline consumption averaged a shocking 9,054,000 barrels per day.
With the Environmental Protection Agency recently approving gasoline with 15 percent ethanol content (E15) for Model Year 2007 and newer vehicles, we suspect that October's record ethanol production numbers will be trumped in the coming months.
[Source: Platts | Image: diaper – C.C. License 2.0]
Industry analyst Andy Lipow calculates that the amount of ethanol in U.S. gasoline averaged out to 9.5 percent for the month of October. The January-to-October results indicate that ethanol production averaged of 851,300 barrels per day, while consumption of the corn-based fuel came in at 825,700 barrels per day. In stark contrast, gasoline consumption averaged a shocking 9,054,000 barrels per day.
With the Environmental Protection Agency recently approving gasoline with 15 percent ethanol content (E15) for Model Year 2007 and newer vehicles, we suspect that October's record ethanol production numbers will be trumped in the coming months.
[Source: Platts | Image: diaper – C.C. License 2.0]
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