New report finds food prices unaffected by ethanol production
This year, the U.S. may post the longest stretch of falling food prices in more than 50 years — and it’s a fact that isn’t lost on former U.S. Senator Jim Talent. Now, the Renewable Fuel Association has released a new study bucking the notion that there should be a “food vs fuel” debate at all. This and more just ahead in your Think Bioenergy news roundup!
Optimism grows among Canadian ethanol producers
Canadian biofuel producers have reason to be optimistic as their federal government begins to embrace carbon reduction strategies in its climate change action plan.
In early October, Canadian Prime Minister Justin Trudeau announced that all provinces will have to choose between implementing a carbon tax or a cap-and-trade system to address climate change. The action plan includes targeted greenhouse gas reductions throughout all emitting sectors, including transportation.
“It’s a pretty exciting time for us now,” Jim Grey, board chair of Renewable Industries Canada (RICanada, formerly the Canadian Renewable Fuels Association), told Ethanol Producer Magazine. “I think it’s going to bode very well for our industry.”
For the full story appearing in their upcoming issue, visit Ethanol Producer Magazine.
Report finds food prices unaffected by ethanol production
The Renewable Fuels Association has released an independent analysis on the impact of ethanol on food prices, which concludes that the current collision of falling food prices and record ethanol production should end the “food vs. fuel” debate once and for all.
The new statistical analysis, conducted by Informa Economics IEG, examined the effect of ethanol expansion on food prices, concluding that “…retail food prices were not impacted in any demonstrable way by expansion of U.S. grain ethanol production under the renewable fuel standard (RFS) over the past decade.” In fact, the study finds that food price inflation has actually slowed during the “ethanol era.”