Bloomberg: U.S. Drought Seen Hindering Energy Independence on Ethanol Stall

“The worst U.S. drought in five decades is cutting profits from producing corn-based ethanol for blending in gasoline, hindering the country’s efforts to reach energy independence, according to Poten & Partners Inc. Stalling domestic ethanol output led to increased imports, reversing the nation’s role as a net exporter of the biofuel, the New York-based shipbroker said in an e-mailed report Nov. 23. That’s boosting demand for tankers as Brazil supplies cargoes to the U.S. East Coast, according to the report.”