Despite difficult current economic conditions, the ethanol industry is poised to meet the production targets of the Renewable Fuels Standard (RFS), according to a report released today by LECG LLC, a prominent economic consulting firm.

Despite the challenge to profitability the ethanol industry continued to grow. Nationally, total ethanol capacity expanded 34 percent. The ethanol industry met the Renewable Fuel Standard target of nine billion gallons for 2008 and, despite the bleak economic outlook is poised to meet future targets.

The renewable fuels industry is experiencing many of the same problems as other industries as a consequence of the recession and collapse of oil and commodity prices, the report concludes. Nonetheless, the ethanol industry is making a significant contribution to the economy in terms of final demand, job creation, generation of tax revenue, and displacement of imported crude oil. Expansion of the ethanol industry will confirm the industry’s position as the original creator of green jobs and will enable America to break its dependence on fossil fuels.

This study estimates the contribution of the ethanol industry to the American economy in 2008 and is posted online at www.ethanolrfa.org or by clicking on the following link: LECG Report

The RFA's 2009 Ethanol Industry Factbook can be downloaded from this web site in the ethanol Facts section at http://www.wicornpro.org/library_pdfs/RFA_Outlook_2009.pdf or by cliciking on the following link: RFA Outlook