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The demand for
ethanol is very
high as
companies,
consumers, and
the government
become more
conscious of the
environmental
impact of the
consumption of
fossil fuels.
Ethanol, a clean
burning
alternative, is
generally used
as an oxygenate
for gasoline.
Currently, the
primary gasoline
oxygenate used
in the United
States is MTBE.
This product is
being phased out
due to
environmental
concerns,
creating
tremendous
demand for
ethanol, which
is its only
alternative. |
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| Ethanol’s primary
purpose is to serve as an
octane extender for
gasoline, a clean air
additive in the form of an
oxygenate, and as an aid in
the reduction of America’s
dependence on imported oil,
thereby reducing our balance
of trade. In order to
accomplish these tasks in
the face of resistance from
the oil industry, Congress
established an incentive in
the form of a tax credit
during the mid-1970’s
designed to encourage the
oil industry to blend
ethanol. The tax incentive
continues today and was
recently extended to 2010. |
