Fresh thinking. Smart farming.
cornclouds-old

 

Today, Minnesota's corn growers not only take pride in providing an abundant supply of corn to meet world demand for food and feed, we're also proud to be part of the solution to America's energy crisis by providing a more environmentally-friendly source of renewable fuel through the production of ethanol.

Ethanol reduced "Pain At the Pump" by more than a dollar a gallon Print E-mail
Written by Jonathan Eisenthal   

Last year, when crude oil prices soared, ethanol's growing presence in the fuel market kept retail gasoline prices in check, according to a study published recently by Iowa State University's Center for Agricultural and Rural Development.

In 2011, motorists saved an estimated $1.09 per gallon of fuel. Based on the average household consumption of 1,124 gallons of gasoline a year, families averaged a savings of $1,200 compared to what they would have paid without the 14 billion gallons of US-made ethanol that was blended into gasoline.

"Now we have ten percent more fuel in the market, because ethanol serves as a substitute for gasoline," Sheldon (Xiaodong) Du, assistant professor, Department of Agricultural and Applied Economics at University of Wisconsin, Madison. He said, "Think about supply and demand, the presence of the substitute depresses the price of gasoline."

Prof. Du wrote the study along with Iowa State University's Prof. Dermot J. Hayes--it's an update, using the same methods as a peer-reviewed paper published in 2009 in the journal Energy Policy.

Read more...
 

MN Ag Leadership Conf

MALC-Logo-sm

Click here to view the 2011 conference agenda and listen to audio of the speakers.

MN Ag EXPO 2012

MNAGEXPO-2012Logo

Thanks for attending MN Ag EXPO 2012. We'll see you next year!

Minnesota Corn Online

Follow us on:

Flickr

Twitter

YouTube


"Like" Minnesota Corn:

Facebook

Cool Corn Merchandise!

           Travel Mug

  

Drink your hot beverages out of this "corn is cool" travel mug or give one as a gift!

Click here to order.

Minnesota Corn Growers Association
Our Mission: Identify and promote opportunities for corn growers while enhancing quality of life.

738 First Avenue East - Shakopee, Minnesota 55379 • Phone (952) 233-0333 • info@mncorn.org