EIA: Ethanol production expected to rebound in 2013
The U.S. Energy Information Administration has released the December issue of its Short Term Energy Outlook. Regarding ethanol, the report notes that fuel ethanol production fell from an average of 900,000 barrels per day during the first half of 2012, to an average of 820,000 barrels per day in the second half of the year. According to the EIA, ethanol production is expected to remain near current levels through mid-2013, but will return to pre-drought production levels by send half of 2013.
The EIA is projecting an average per day ethanol production level of 861,000 barrels per day for 2013, which equates to 13.2 billion gallons of production throughout the year. According to the EIA, lower ethanol production is generally matched by higher ethanol imports and lower exports.
The STEO also shows that the projected average retail gasoline price for 2013 will be slightly lower, dropping from $3.63 per gallon in 2102 to $3.43 per gallon next year.
Liquid fuels consumption in the U.S. is also projected to drop for 2012 According to the EIA, motor gasoline consumption is expected to decline by 30,000 barrels per day in 2012, or 0.3 percent. In 2013, the EIA expects total liquid fuel consumption to increase by 90,000 barrels per day, with growth in all major liquid fuel categories.
A full copy of the December issue of the EIA’s Short Term Energy Outlook can be downloaded from the administration’s website.