Bloomberg News

Ethanol Output in U.S. Rose 2% to Record, Energy Department Says

December 29, 2011

Dec. 29 (Bloomberg) -- Ethanol output in the U.S. increased 2 percent last week to 962,000 barrels a day, according to an Energy Department report. It was the highest production since the department began weekly reports in June 2010.

Stockpiles rose to 17.7 million barrels, the department said in the report released in Washington today. Output was 5.4 percent higher than a year earlier.

Production of conventional gasoline blended with ethanol slipped 0.4 percent to 5.24 million barrels a day. Refiners receive a 45-cent tax credit for every gallon of ethanol blended into the motor fuel, a measure that expires Dec. 31.

Denatured ethanol for January delivery fell 0.1 cent to $2.23 a gallon at 11:04 a.m. New York time on the Chicago Board of Trade. Futures have dropped 6.2 percent this year.

--Editors: Richard Stubbe, David Marino

To contact the reporter on this story: Mario Parker in Chicago at mparker22@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net.


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