Ethanol industry facing a disaster due to “perfect storm” of events (Audio)
March 26, 2020
The ethanol industry in America is facing a disaster due to a perfect storm. That’s according to American Coalition for Ethanol CEO Brian Jennings.
Jennings says it’s likely over 2 billion gallons of ethanol production will be lost as people aren’t driving due to the COVID 19 pandemic and social distancing. He says an oil price war has added to the woes.
He says most if not all ethanol plants are losing money and it isn’t going to get any better any time soon.
Jennings says most ethanol producers were already under pressure at the beginning of the year due to the trade war and the small refinery waivers which had destroyed demand.
Jennings says ethanol producers are seeking any federal help they can get for short-term relief for their industry.