Study says capital cost to meet US 36 million gallon mandate is $105.5 billion

In Washington, LECG released a study projecting that the capital cost to meet the proposed 2022 Renewable Fuel Standard of 36 billion gallons would be $105.5 billion.

The report also detailed that the Farm Credit System had provided $3.9 billion in loans or loan commitments to the ethanol industry, or 1.3 percent of the System’s portfolio, and that this resulted in construction benefits of $23.2 billion in gross economic output, $5.5 billion in household income, 136,345 new jobs in the construction of ethanol plants, plant operation benefits including $317 million in annual transportation revenue to ship ethanol; $24.8 billion in gross economic output, $3.6 billion in household income and 99,188 new jobs in the operation of the plants; and $4.3 billion in annual farm revenue for corn to make ethanol.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

Sandia National Lab releases studying finding 90 billion gallons per year in EU ethanol capacity; 75 Bgy from cellulose

In California, researchers at Sandia National Laboratories released a study concluding that the United States has sufficient biomass to produce 90 billion gallons per year of ethanol, including 75 bil...

Ireland sets 4 percent biofuels mandate

In Ireland,  Energy Minister Eamon Ryan announced that the Government has approved a Biofuels Obligation - with a 4% biofuels requirement in annual fuel sales. Biofuels used must produce 35% lower gr...

US Energy Bill to mandate 20.5 billion gallons of ethanol by 2015; includes biodiesel mandate for first time

In Washington, details continued to emerge regarding the imminent Energy Bill. According to reports, the proposed legislation would mandate the use of 20.5 billion gallons of biofuels by 2015, includi...

Sugar growers: Philippines can’t make enough ethanol to meet mandate

Sugar industry officials say that The Philippines are too far behind on ethanol plant construction to meet the 2009 5% ethanol mandate with domestic production. The mandate requires 268 million liters...

Minnesota researchers find cellulosic ethanol reduces “health and environmental” costs of fuel by more than 50 percent, compared to gasoline; first-gen ethanol at break-even to worse

Researchers from the University of Minnesota will publish a study in the Proceedings of the National Academy of Sciences confirming that cellulosic ethanol emits lower amounts of fine particulate matt...

Farm Credit Council asks if banks will “sit back and wait for someone else to take the financing risk to get the industry up and running”

The Farm Credit Council said that, following the singing of the Energy Independence and Security Act, that US industry will require $105.5 billion in capital to meet the new Renewable Fuel Standard. ...