: 7 2008, platts()

01/21/2009 |

Right before oil started to fall in price. Interesting. We consume around 250 billion gallons of fuel a year

1 US beer barrel = 31 US gallons

The May figure was surprising to some market sources, in that production was affected by severe May rains and June flooding.

Despite tight ethanol distillation margins due to strong corn prices, however, new plants still continue to come on line.

May ethanol stocks rose by 507,000 barrels to 12 million barrels in May, according to the EIA data.

The US imported 28,000 b/d during that month.

Also, the US exported in May the equivalent of 6,000 b/d, according to consultant Andy Lipow.

He estimated Tuesday that the total US demand for ethanol was 604,000 b/d, which would have accounted for 6.5% of the total US gasoline pool in May.

The current federal Renewable Fuel Standard mandate calls for the use of 9 billion gallons within the transportation fuels mix this year.

At the May production level of 598,000 b/d, the US was producing 9.167 billion gallons, more than enough ethanol to meet the RFS without imports


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