AP:
Ethanol production in the United States is growing so quickly that, for the first time, farmers expect to sell as much corn this year to ethanol plants as they do overseas.
“It’s the most stunning development in agricultural markets today – I can’t think of anything else quite like this,” says Keith Collins, the U.S. Agriculture Department’s chief economist.
The amount of corn used for ethanol, estimated at 2.15 billion bushels this year, would amount to about 20 percent of the nation’s crop, according to department projections.
And remember, this is with ethanol still serving only a tiny fraction of our liquid-fuel needs. What if there really were an E85 station on every corner?
