Chris Damas

Verasun Energy: Expect Future Growth and Profitability

"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"

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.