Bloomberg can always be counted on to misinform by misleading
Ethanol’s discount to gasoline narrowed to the smallest level in more than a month as plant shutdowns drained stockpiles of the fuel.
The spread contracted 1.86 cents to 56.7 cents a gallon at 10 a.m., the least difference since Jan. 28. Stockpiles have dropped 3.6 percent this year, according to data from the Energy Information Administration.
“We’re seeing producers and refiners buying,” said Jim Damask, a manager at StarFuels Inc. in Jupiter, Florida. “It’s just an indication that there’s less supply and people that need it are willing to pay up for it.”
Denatured ethanol for March delivery rose 0.5 cent to $2.401 a gallon on the Chicago Board of Trade, the highest price since Feb. 8. Futures have advanced 9.6 percent this year.
Gasoline for March delivery fell 1.36 cents, or 0.5 percent, to $2.968 a gallon on the New York Mercantile Exchange. The contract covers reformulated gasoline, which is made to be blended with ethanol.
Production of the biofuel tumbled 17 percent to 797,000 barrels a day in the week ended Feb. 15 from a record in December 2011 as higher corn prices caused by drought forced companies to idle operations at money-losing plants, data from the Energy Department’s statistical arm show.
At $2.40 a gallon the gasoline gallon equivalent or gge is $4.00.
33%+ higher cost than gasoline.
I do not believe Americans have changed that much. But this systematic dissembling by our dishonored press; of which Bloomberg is a poster child, is blinding our common sense.
There is nothing of benefit in corn ethanol for American. In fact there is nothing but great hard.
We have the natural gas easily turned into methanol at a cost below gasoline never mind corn ethanol corruption. Methanol already has 'advanced' Cellulosic abilities to handle waste organic inputs. Technology to recycle co2 into methanol is proven with an outfit in Iceland making a delivery of methanol to EU markets.
Does any one else remember before the Progressive infestation of America how we always looked for practical innovation? We did not allow brain dead corruption like food based ethanol to continue? When we would never force our military to support this bio-fuel corruption rather than put our ships to sea?
Is American really going to allow the flat earth Progressives like Obama brag us back to the middle ages of wind mills and sun drying?
I am amazed that the OLB can post their flat earth nonsense on a natural gas board with a real workable solution to high energy prices with so little challenge. Very troubling.
WASHINGTON, D.C. – The American Fuel & Petrochemical Manufacturers (AFPM) has reported that Sens. Roger Wicker (R-Miss.) and David Vitter (R-La.) have taken steps to reverse the Environmental Protection Agency's (EPA) decision to allow E15 into the fuelsupply despite studies confirming it can damage engines. The two senators have proposed legislation, which, if passed by Congress, will set a cap of 10 percent ethanol (E10) that is approved for use in the nation's gasoline supply.
All American Patriots should be supporting this bill. Long past time to curb this radical and completely Obama EPA. In a drought causing food price riots leading to revolutions across oil producing states at 10% ethanol corruption we should force E85 into the market without consumer information on the much higher real cost in gge and without disclosure of damage to new cars let alone complete destruction of small boat and home motors?
Roger Wicker (R-Miss.) and David Vitter (R-La.) These Americans are doing the right thing here. Sad we have no democrats.
Chances are you've noticed that sticker on the gas pump that reads: 'contains up to 10 percent ethanol'.
It means your car runs in part, on corn.
Republican representative Matt Gaetz is filing a bill to do away with Florida’s ethanol mandate.
Before it ever flows out of the pump, government pumps big money into producing ethanol, money flowing directly to corn farmers in the form of subsidies.
One more reason critics complain it's time for ethanol to make an exit, it's not cost-effective.
Environmentalist Eric Draper calls getting rid of the mandate a bad idea.
“It's not the final solution to our energy needs, but it certainly can supplement our energy needs. If a choice is between ethanol and having to get oil from overseas or having an oil spill on our beaches, I’m going to choose ethanol,” said Eric Draper with Audubon of Florida.
Ethanol is cleaner for the environment and even though it tends to gunk up the works in old cars, boats and lawnmowers, Marcus Hardy and Cheryl Powers say, that's okay.
"I'm willing to pay that extra dollar to fix it up," said Marcus Hardy who supports the ethanol mandate. "Yeah, that's a pretty simple decision, in my book."
Hey remember when Americans actually believed in Liberty? If the delusional empty headers want to buy ethanol so be it. But at what point in time did we allow people who are clearly not informed and do not care to be informed impose their will on us?
Recap - Corn ethanol creates no net energy
Natural gas can be converted into liquid fuel at a fraction of the cost
Using natural gas doe reduce co2
Using American natural gas does displace oil imports
Natural gas does not add huge burdens to water pollution. Worried about water quality from fracturing technology and nothing for water run off from farmers over planting highest fertilizer corn on fields not being properly rotated due to Obama Progressive special interest payoffs?
Go Florida. Some Americans are trying to led and we should help them.