A Brief Synopsis Of The Emerging Ethanol Fuel Industry

1151 WordsDec 14, 20145 Pages
A brief synopsis of the Emerging Ethanol Fuel Industry Ethyl alcohol or grain alcohol, commonly known as Ethanol (commonly seen as E-85 at the gas pumps) has a long history in the United States. Henry Ford considered it the fuel of choice. [1] In fact, his very first automobile, built in 1896, ran solely on ethanol. He said, “There is enough alcohol in one year 's yield of an acre of potatoes to drive the machinery necessary to cultivate the fields for a hundred years.” But it 's use in that capacity on a commercial scale was never realized due to the abundant resources and soon to arrive efficient production processes of petroleum products. However, with the highly volatile petroleum markets, mounting environmental concerns and the increase of gasoline fuel prices it is being reconsidered. To where in 2013, ethanol use had displaced as much as 462 million barrels of imported oil, reducing the dependence on foreign oil by 6 percent. [2] From an Economical View In the last 10 years alone gasoline fuel prices have doubled, from just over $1.59 a gallon in 2004 to $2.59 a gallon, as of December 2014. But the unstable fluctuations in the market, along with the nation trying to unshackle itself from the dependence of foreign petroleum, along with the added fear that the world has reached or is on the verge of reaching 'peak oil ' has spurred renewed interest within the alternative fuel industry as a whole, with the primary focus focused on ethanol. [3] On the economic front,

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