Wednesday, May 31, 2006

Ethanol Industry Opens on Wall Street

May 31, 2006

New York, NY [] The Renewable Fuels Association (RFA) opened trading on the NASDAQ stock exchange this week on Wall Street, in recognition of the growing importance of the U.S. ethanol industry to our nation's energy and economic future. RFA President and CEO Bob Dinneen represented the U.S. ethanol industry during the opening bell ceremony.

"Ethanol's growing importance is being felt on Main Streets and more increasingly on Wall Street, and that is a good thing," said RFA President Bob Dinneen. "While farmers have been and will continue to be the foundation of this industry, teachers, truck drivers, police officers and all Americans should have the opportunity to invest in our nation's energy future."

Currently, the U.S. ethanol industry has 101 biorefineries in production with an annual capacity of more than 4.7 billion gallons. An additional 32 biorefineries are currently being built and 8 are expanding, with a capacity of more than 2 billion gallons.

Last year, a nearly 4 billion gallon U.S. ethanol industry created 153,000 new jobs, added more than $32 billion to gross domestic product and put more than $5 billion in additional income in the pockets of American households. This year, the industry will produce some 5 billion gallons of ethanol, resulting in even greater economic benefits.

"There is no question that America's ethanol industry is expanding to meet growing consumer demand, and the country is better off for it," said Dinneen. "Not only does domestic ethanol production create jobs and raise incomes in this country, it reduces our trade deficit by eliminating the need to import millions of dollars of oil from overseas. Ethanol's unique ability to help ensure our energy security, improve our environment, and stimulate our economy makes it a win-win for all Americans."

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