Ethanol production in the United States reached its highest level since the COVID 19 lockdowns brought the industry to a basic standstill. The industry’s revival is deftly needed according to Geoff Cooper, President and CEO of the Renewable Fuels Association.
He says the ethanol industry is still waiting for emergency relief funding promised biofuels producers almost a year ago who were affected by the COVID pandemic.
Cooper says those relief funds are a significant amount at just over $700 million dollars. He says the USDA did its job by getting that relief proposal to the White House but they’re sitting on it as they working on other legislation.
Cooper says despite the recent pandemic recovery, renewable fuel producers are still suffering and the federal assistance is badly needed.
Cooper says the ethanol industry has reached production it hasn’t seen since June of 2019. And gasoline demand on a four week rolling average hit its highest point since 2007.
