The Biotechnology Industry Organization (BIO) reports that ethanol made from corn contributes more than 4 billion gallons to the U.S. fuel supply every year, and production will double in the next few years.
New enzymes that will make ethanol processes more efficient could allow the production of more than 70 billion gallons of ethanol each year. A recent study says that “biotech processes already being used today could produce ethanol from cellulose for less than $1.60 a gallon compared to refined petroleum currently selling for as much as $2.60 per gallon.”
According to a Natural Resources Defense Council report, improvements to the processes along with expanded production could reduce the cost of ethanol from cellulose to below 90 cents per gallon. An excerpt from the report states: “For every one-cent reduction in the cost of producing ethanol, American drivers would keep $1 billion in their pockets.”
Source: “Biotechnology Breakthroughs Can Help Drivers Reduce Fuel Costs”