The COVID 19 crisis has already led to more than $3.4 billion in lost revenues for the U.S. Ethanol industry. RFA President and CEO Geoff Cooper says that’s shown in an economic analysis covering March through June of this year. He says it’s based on projections from both the U.S. Department of Energy and the University of Missouri’s Food and Agriculture Policy Research Institute.
He says their analysis projects even greater losses going into next year.
Cooper says their study provides them evidence to show to Congress that the ethanol industry must get pandemic relief as they craft a new stimulus package.
Cooper says their analysis showed the cumulative decline in ethanol production and consumption exceeded 1.3 billion gallons., and that nearly 500 million fewer bushels of corn were used in ethanol production during the period.
