Valero Energy's 10 ethanol plants are turning a profit, thanks in part to falling corn prices, said Bill Day, vice president of media and community relations. Because of slumping gasoline demand in the U.S., Valero is looking toward the export market, Day said. "Even beyond the Renewable Fuel Standard, if you keep plants operating at a fairly high utilization rate, making ethanol for sale overseas, it's great for everybody and helps reduce the balance of trade in the U.S.," he said.

Related Summaries