Domestic Demand For Ethanol Is At An 11-Week Low; Cue Up Connie Francis

See earlier story.

This was predicted just a couple days ago:

In addition, domestic demand for ethanol production also shrank as ethanol output for the reporting week ended July 19 fell 23,000 b/d to an 11-week low of 853,000 b/d, Energy Information Administration data showed Wednesday in its latest weekly report.

That was at Platts.

At the earlier post:

The Oil & Gas Journal is reporting:

The increase for gasoline with a 10% ethanol blend could be as little as 20¢/gal, but only “under somewhat unrealistic and favorable assumptions regarding enormous gains in market penetration and consumer acceptance for E85,” it said. A spike of 50¢-$1/gal is more likely, the July 22 study added.

That paragraph can be hard to understand.

It says: the price of gasoline will increase by as little as 20 cents/gallon next year, simply due to the President's mandate to increase the price of gasoline.

However, that 20 cents/gallon is based on wildly optimistic assumption. Most likely the increase, again, according to the experts, the increase in gasoline will be 50 cents/gallon at the pump, and it is very possible gasoline could increase by $1/gallon at the pump simply due to presidential whimsy. Yes, I know it took Congress to pass the legislation but the president advocated for it, and signed the bill. This is not rocket science.

The writing is on the wall. Cue up Connie Francis.