In the last 4 years corn used for ethanol production has increased by over 50% from 996 million bushels to and estimated 1,500 million bushel in this current marketing year. In the last 10 years corn usage for ethanol has tripled, resulting in higher commodity prices for farmers and an alternative fuel source for the USA.
Presently there are 95 ethanol plants in operation with another 31 under construction and nine going thru expansions. It is expected that another 50 to 70 new plants will be built in the next 7 years.
Ethanol production is estimated at 5 billion gallons of fuel for 2006, up from 4 billion gallons in 2005. At $2/gallon that is $10 billion/year that we save in foreign reserves as a country.