Corn Ethanol Plants Hold Gasoline Prices Down
- Corn is helping hold down the cost of OPEC gasoline by blending 10%
corn ethanol, providing low cost cattle food to hold down beef prices
while creating environmentally friendly high quality North American
BioEnergy Corp, Janesville, Mn a new corn ethanol refinery will produce
100 million gal ethanol annually, 320,000 tons dried distillers grains
(DDGs), employ 40 people at the refinery and family at the farm, and
process 35-40 million bu corn annually. Other large ethanol plants are
locating in Fairmont, Mn & Welcome, MN in 2007.
DDG is affordable cattle feed subsidized by ethanol and energy
production from corn.
$300 million dollars for gasoline stays in North America.
$1.2 million dollars high quality beef is produced, sold, consumed.
$1.6 million dollars in salaries is paid locally.
$200 million dollars in federal taxes is paid into the IRS and the
taxpayer saves another $15 million in subsidies not needed.
$80-$100 million dollars is paid to the farm for raising the corn.
300,000 idle acres raised corn rather than receiving $15 million in
agricultural subsidies (mentioned above).
$600 million dollars stays local rather than $15 million subsidies to