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Ethanol - USA - Grabs attention of White House, Wall Street, automakers
COON RAPIDS, Iowa -The Detroit News/AP, by Libby Quaid -4 June 2006: -- A tractor trailer rig rumbles into the Tall Corn Ethanol plant... The 40-acre distillery turns corn into alcohol in quantities that would make a moonshiner drool. Instead of white lightnin', the brew is converted to ethanol, a fuel that makes money for farmers and is seen as a possible solution to today's high oil and gas prices... Ethanol production in the United States is growing so quickly that for the first time, farmers expect to sell as much corn this year to ethanol plants as they do overseas... The amount of corn used for ethanol, estimated at 2.15 billion bushels this year, would amount to about 20 percent of the nation's entire crop, according to department projections... Even as ethanol devours corn and pushes prices higher, the president and Congress are calling for even greater ethanol use. Wall Street cannot seem to get enough of ethanol-related investments. Automakers are speeding ethanol-capable vehicles onto the road... (Picture: Charlie Neibergall / Associated Press - Lynn Barry, of Manilla, Iowa, unloads corn to be processed at the Tall Corn Ethanol plant in Coon Rapids, Iowa)
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