Biodiesel to boost economy by $24 billion, study shows

| 11/15/2006

Biodiesel not only converts vegetable oils and animal fats into fuel, but it will grow the economy of the U.S. by billions of dollars, according to a national study.

"The biodiesel industry is in its infancy but is poised for significant growth," a National Biodiesel Board official stated in the recent report titled "Contribution of the biodiesel industry to the economy of the United States."

The board anticipates a big production boom in the next decade.

Biodiesel plants in the U.S. will soon total more than 100, and total production capacity is predicted to grow from the 75 million gallons produced in 2005 to 650 million gallons per year by 2015.

Biodiesel and its related industries of production and job creation will add $24 billion to the U.S. economy between 2006 and 2015, according to the study.

Industries inclusive to biodiesel will create 39,100 new jobs during that time, the study predicts.

Soybeans continue to be the crop of choice to produce the oil that can be made into non-toxic biodiesel, but other vegetable oils, animal fats and recycled grease are also common.

A blend of 20 percent biodiesel and 80 percent petroleum-based diesel runs efficiently in all trucks, according to the board, and testing continues in various sectors of the transportation industry.

See the December/January issue of Land Line Magazine for additional reports about biodiesel production plants and a new test involving highway-grade biodiesel for your trucks.