2023: One of the Best Years for U.S. Ethanol
As 2023 draws to a close and we prepare to flip the calendar forward to 2024, RFA President and CEO Geoff Cooper sat down with “The Ethanol Report” podcaster Cindy Zimmerman to discuss the renewable fuels industry’s many accomplishments over the past year. In short, 2023 was a fantastic year for the industry, with Cooper noting it could “go down as one of the best ever.”
Demand for American-made ethanol continued to rise in 2023, both domestically and overseas. In fact, consumption hit its highest level since 2019 and ethanol’s share of the gasoline pool (or “blend rate”) set a new record. The industry scored key policy victories as well, including finalization of strong Renewable Fuel Standard blending requirements for 2023-2025, emergency waivers allowing uninterrupted E15 sales, momentum toward a permanent solution for year-round E15, and inclusion of the GREET model in the Treasury Department’s guidance on sustainable aviation fuel tax credits. With its new Ford Escape plug-in hybrid flex fuel vehicle, RFA also showcased the synergies between low-carbon ethanol and electrification at events across the country.
But 2023 was not without its challenges, and the road ahead in 2024 will surely contain its fair share of obstacles. Implementation of the Inflation Reduction Act, electric vehicle mandates, and the same old myths and misinformation about biofuels will all need to be addressed in the new year. In a wide-ranging conversation with Zimmerman, Cooper covers these issues and reflects on the successes of 2023.
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