Wednesday, January 03, 2007

BioDiesel to add $24 billion to US Economy

Agri-News is reporting that Bio Diesel will add $24 billion in value to the US economy in the coming years as use of the bio fuel grows.

The emergence of biodiesel is helping bolster the U.S. economy by way of
jobs and reducing dependence on imports.According to the economic analysis by
John M. Urbanchuk of LECG and funded by the soybean checkoff through the United
Soybean Board, biodiesel will contribute to the U.S. economy in a variety of
ways.“It’s going to add about $24 billion to the U.S. economy between 2005 and
2015. That’s assuming we have growth that reaches 650 million gallons of annual
production by 2015, which looks like that’s going to happen maybe quicker than
that,” said USB Chairman Eric Niemann, a soybean farmer from Nortonville,
Kan.

No comments: