E85 sales slump
I spotted this in today’s news. It is telling us that motorists are counting their pennies before fueling up.
“The U.S. ethanol industry has been staggered by high corn prices, low wholesale ethanol prices and the credit crunch. Major producers such as South Dakota-based VeraSun Energy Corp. went bankrupt.
Minnesota sales of E85 fell 52 percent from 1.84 million gallons in May 2008 to 879,000 gallons in this May, according to the most recent Minnesota Department of Revenue figures available. The dip in overall gasoline sales in that period was much smaller – down just 3 percent, to 192 million gallons.”
Read the complete story at http://ow.ly/hdru