Ethanol sector can survive without VEETC, exec says

11/20/2011 | CBS MoneyWatch

The ethanol industry can survive without the Volumetric Ethanol Excise Tax Credit and produce more than is required under the Renewable Fuel Standard, said Adam Monroe, president of Novozymes' North American subsidiary, which is planning to open a new enzyme plant in Nebraska in 2012. Ethanol is "a bigger solution than a lot of people realize," Monroe said. "Right now, ethanol is very cost-competitive with gasoline without the tax credits," added Matt Hartwig, spokesman for the Renewable Fuels Association.

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