Saturday, February 2, 2008

Update on Iowa's Ethanol Economics

Just wanted to quickly do an update on a post I had this past Wednesday on the economics of ethanol to the Midwest. It seems as though the post was fortuitous since the very next day (Jan. 31st), at the Second Annual Renewable Fuels Summit in Des Moines Iowa, John Urbanchuk reported his findings on the impacts of ethanol to the Iowa economy. Urbanchuk, a respected economist out of Pennsylvania whose analysis on ethanol has gone all the way to the US capitol, reported that ethanol has added $12.7 billion to the Iowa economy. That's approximately 10% of our gross domestic product! These numbers back up the findings by Iowa State economist David Swenson and highlight the fact that, without ethanol, folks out here in the Midwest would definitely be in a much tighter squeeze than we are right now.

For the original article:
http://www.redorbit.com/news/science/1239110/ethanol_a_boon_to_rural_economies/

2 comments:

berfunkle said...

Hey Dave,
You know how much I like maps, so the wind article gave me some info I appreciate. Take a look at today's piece. Good point about the benefit to Iowa financially although out-of-staters might argue with certain points. Also, a possible typo: "has (added) $12.7 billion" Maybe left out a word. Hey, the Hawks upset Ohio State after getting humiliated in Columbus a few weeks back. I'm still pullin' for da Bears to win the Super Bowl. take care

Dave said...

Yeah, thanks. I guess I was so excited to announce the dollar amount that I forgot to add a few key words. Take care and go Hawks!