Ryan Thorpe Chief Operating Officer Tharaldson Ethanol.

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Presentation transcript:

Ryan Thorpe Chief Operating Officer Tharaldson Ethanol

Tharaldson Ethanol

Energy and Security Act of 2007 Also known as RFS2 Ethanol Mandate Billion Gallons Billion Gallons Billion Gallons Billion Gallons Billion Gallons

Ethanol Margins

EPA announcement EPA reduces 2014 total mandate from 18.15BB gallons to This is made up of corn based ethanol, advanced biofuels, and biomass-based diesel Corn based ethanol cut from 14.4BB to 13.1BB gallons I will focus on corn based ethanol

Fallout from EPA announcement Long term-puts pressure on the future of corn based ethanol, limits its growth Leaves no room for cellulosic biofuel growth Caps the ethanol penetration at 10%, reducing the need to get E-15 at the pump, even though ethanol is currently $1 cheaper than gasoline

The real loser from this announcement The American Farmer!!!!!!!!!!!!!! United States corn ending stocks for 2014 will be the highest since 2005, 1.8BB bushels (prior to the ethanol boom) World ending corn stocks for 2014 will be the highest since 2001, 162MM tons (6.36BB bushels)

US Corn Ending Stocks

World Corn Ending Stocks

2014 Estimate US Corn

World Soybeans Ending Stocks

North Dakota Ethanol Production ,000, ,935, ,574, ,093, ,145,656

Percentage of Ethanol Exported out of ND % % % %

Questions????