America's Advanced Biofuel
Biodiesel is America’s first Advanced Biofuel. It is a renewable, clean-burning diesel replacement that is reducing U.S. dependence on imported diesel, creating green jobs and improving our environment. It is made from an increasingly diverse mix of resources including agricultural oils, recycled cooking oil and animal fats and meets the strict specifications of ASTM D6751.
- The U.S. biodiesel industry set a new record in 2013 by producing nearly 1.8 billion gallons, with soybeans accounting for just over half of the biodiesel feedstock.
- Biodiesel helped increase soybean prices by 74 cents per bushel between 2006 and 2012.
Source: Impact of the U.S. Biodiesel Industry on the U.S. Soybean Complex
- Increased biodiesel production lowered soybean meal prices during marketing years 2005 to 2009 by as much as $48 per ton from where they would have otherwise been.
Source: Economics of Biodiesel Production on the Soybean Sector, Revisited
- The biodiesel industry helps support more than 60,000 U.S. jobs and $2.6 billion in wages.
Source: LMC International Economic Impact of Biodiesel Industry on the U.S. Economy
Changing the Mix
There is a way to bring stability to transportation fuel prices, and make America more energy independent: make our transportation fuel supply look more like the electric power generation supply.
America generates electricity from a mix of coal, natural gas, nuclear, hydro, geothermal, wind, solar, and biomass. These sources are domestic, regionally priced, and regionally abundant. As a result, electric power prices are stable and affordable.
We can bring choice to our transportation fuel supply. Renewable and diverse sources for transportation fuel already exist. Biodiesel, for one, is domestically produced and environmentally friendly, and already displaces more than 1.1 billion gallons of fossil fuel every year.
Drilling more oil won’t solve America’s transportation fuel needs. Diversifying our transportation fuel portfolio with a broader range of fuels, including Biodiesel, will.