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Abstract
Excerpt from the Foreword: Inquiries concerning ethanol from a broad spectrum of people, including U.S. policymakers, international leaders, and various interest groups, led to the commissioning of this report. It intends to bring clarity to the complex interaction of ethanol production with agricultural markets and government policies. While there are many other ethanol studies available, this report is unique in that it centers on the pivotal role that ethanol plays in the crop and feed markets. In addition, it provides detailed and current analyses on ethanol production costs, profitability, processing technology, and the infrastructure that supports the industry. Also examined are the economics of blending ethanol into gasoline for octane enhancement and to meet clean air regulations. Federal and State policies are described to illustrate the importance of energy legislation, environmental regulation, and farm policy to the development of the ethanol industry.