Restrictions, spike in cases could slow biofuel recovery
The spike in coronavirus cases and increasing restrictions could slow recovery in the biofuel industry.
Geoff Cooper is president and CEO of the Renewable Fuels Association.
“(covid-19 cases and increased restrictions) are having some impact on vehicle travel and fuel consumption again,” he says. “The latest government data showed a pretty big dip in gasoline consumption and we saw a drop in ethanol blending.”
He says it’s especially concerning because travel is typically down in the winter months.
“We’re keeping a close eye on the situation and we’re crossing our fingers that we don’t have a repeat of anything nearly like what we saw in March and April,” he says. “…I think the industry is sort of battening down the hatches to try to get through the winter and get to a time when a vaccine is broadly available.”
Cooper says a return to a more-normal way of living will be good for fuel consumption and demand for ethanol.