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"In 2007, for the first time since 1977, oil imports from the Middle East decreased. This is due to the use of 6.5 billion gallons of ethanol, replacing 228 million barrels of [not] imported oil"
Jul 10 11:30 am
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All Comments by Chris Damas »Verasun Energy: Expect Future Growth and Profitability [View article]
Comments:
Crude oil and fuel are not the same.
1 barrel = 42 gallons so 6.5 billion gallons = 154.8 million barrels.
Ethanol has 67% energy value of gasoline so on a 1 Btu for 1 Btu basis, only 103.7 million barrels crude.
How much crude oil are required to produce a barrel of RBOB (gasoline blend stock)? You might want to check that.