Hayden Jaques, President of Ethanol Trading, Discusses the Effects of EVs on the Ethanol Market
Ethanol is a low-carbon, cost-effective, homegrown renewable fuel produced from corn and used as a gasoline additive. It's been a key player in the renewable energy industry for years, but its future is uncertain with the rise of electric vehicles (EVs). Even with its momentum, EVs were only 6% of the new car sales last year. The remaining 94% of internal combustion engines still dominate the market. The average car has a 16-year lifespan, which will continue the need for blended gasoline for the foreseeable future.
Although we will see a decline in blended gasoline in the coming decades, this does not mean a decline in the ethanol market. Instead, the need for fuel blending goes beyond the automotive market and includes Sustainable Aviation Fuel and other sectors which are harder to electrify. This need reaches globally, affecting our local ethanol plants and those worldwide.
Watch Hayden's full interview here.
