GoodFuels

In defense of ethanol

Energy Business Daily, an energy market blog, has posted an interesting story today addressing four main criticisms of ethanol:

1. Little is gained with respect to reducing overall oil consumption in the U.S. and the world.

2. The enormous quantity of corn and soybeans diverted from the food chain in the process of manufacturing ethanol is creating serious food shortages throughout the world.

3. The amount of greenhouse gases (GHG) emitted into the atmosphere in the production of corn ethanol exceeds the reduction of GHG achieved by using ethanol in place of gasoline.

4. The destruction of forests in various countries of the world in order to grow fuel crops is removing valuable CO2 absorption sinks from the earth resulting in greater amounts of CO2 going into the atmosphere, thereby exacerbating climate change.

The blog then goes on to address each of these complaints one by one, methodically pointing out unfair and/or wrong assumptions.

Their final conclusion?

Ethanol production from biomass is far and away a positive means of relieving our dependence on oil. According to the Energy Information Administration ethanol already represents about 9 percent of the total U.S. gasoline supply. Overall, its shortcomings are offset by its many advantages. Not only does it reduce our need for oil but it also provides many new domestic jobs, increases farmer liquidity, and lowers fuel prices (according to Merrill Lynch “without biofuel programs, the price of oil would be about $21 a barrel higher than it is now”). While ethanol is not without its faults, it is a positive contributor to our nation’s oil independence and should not be sold short.

Good read. Go here to read the entire blog.