New Oil Field Won't Hurt Ethanol Production
Added Randolph, "It's still very important for us here in the United States to continue to use our domestic petroleum sources and alternative fuels like ethanol."
You might think a new oil field would decrease ethanol production as new oil will increase U.S. reserves by up to 50%.
"All of that oil won't necessarily come to the United States," explained Randolph.
And that oil field might not be ready for at least four years, with ethanol production continuing for another reason.
"We do have national, as well as state, requirements that are leading us to use more ethanol as an alternative fuel," noted Randolph.
All fuel in Missouri will have to be 10% ethanol by January 2008. Corn producers estimate Missouri will produce 350 million gallons of ethanol by the end of next year and they expect that number to grow.
"The industry is growing by leaps and bounds," said McCarty.
And farmers said new oil discoveries won't hinder that growth.
Missouri's DNR reports that almost 7.5 billion gallons of fuel nationwide must contain ethanol by 2012.