The Renewable Fuels Association released two important studies in the past week related to ethanol’s impact on the environment and the economy.
For the environment, a new analysis finds the Renewable Fuel Standard (RFS) has slashed greenhouse gas emissions by almost a billion metric tons since it was implemented in 2008. The research was conducted for the Renewable Fuels Association by Stefan Unnasch and Debasish Parida of Life Cycle Associates. Unnasch took part in a National Ethanol Conference panel this week on ethanol’s role in the future of autos.
For the economy, despite the pandemic, the ethanol industry contributed $35 billion to the GDP and supported over 300,000 jobs in 2020.
The contribution to the national gross domestic product was 19 percent below the previous year, primarily as the result of lower output and lower prices, but still represents a significant contribution to the economy in terms of job creation, generation of tax revenue, and displacement of crude oil and petroleum products.
RFA Chief Economist Scott Richman discusses the findings of both reports in this interview.
2021 NEC Interview with Scott Richman on economic and GHG reports 5:22