Ethanol Production Continues Impressive Rate
Production remains over 300,000 barrels per day.
Compiled by staff
Published: May 29, 2006
New data from the Energy Information Administration states the U.S. ethanol industry continued its pace from February, producing 301,000 barrels per day in March. That number is up nearly 60,000 b/d from March 2005.
More importantly, ethanol stocks across the U.S. were up more than 1.3 million barrels, equating to nearly 29 days of ethanol supply. This is the third straight month ethanol stocks have risen, up more than 56% from the beginning of the year.
The Renewable Fuels Association released the following statistics:
March 2006 Statistics
(mg = million gallons)
|
Fuel Ethanol Production |
392.2 mg |
301,000 b/d |
|
Fuel Ethanol Use |
364.8 mg |
280,000 b/d |
|
Fuel Ethanol Stocks |
365.7 mg |
28.9 days of reserve |
|
Fuel Ethanol Exports |
0.0mg^ |
n/a |
|
Fuel Ethanol Imports |
28.6 mg* |
n/a |
*Source: U.S. International Trade Commission
^ Jim Jordan and Associates
"EIA's data confirms what many in the ethanol industry have been saying along: there is no shortage of ethanol," says RFA President Bob Dinneen. "As EIA's data is 60 days old, this information shows that ethanol producers had been increasing stocks to ensure there were adequate supplies to replace the MTBE being voluntarily removed from the market. The trend in data from EIA demonstrates that the U.S. ethanol industry is responding to meet America's growing demand for this clean-burning, renewable fuel."
Currently, 101 ethanol biorefineries nationwide have the capacity to produce more than 4.7 billion gallons annually. There are 32 ethanol refineries and eight expansions under construction with a combined annual capacity of more than 2 billion gallons.
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