Minnesota Senator Tina Smith says expanded biofuel markets could provide a critical source of future demand for U.S. agriculture. Her comments follow the release of an S&P Global Energy study commissioned by U.S. Farmers and Ranchers in Action. “This is the biggest opportunity that we have for value-added agriculture,” Smith said. “Biofuels and ethanol create cleaner, renewable, lower-cost energy while creating economic opportunity here in the United States and in Minnesota.” The report projects global biofuel production could triple by 2050. Researchers also warn that without new demand sources, U.S. corn acreage could decline by roughly 31 percent by mid-century. “We have a need to boost demand for commodity crops and find ways to improve farm profitability,” Smith said. “Putting a big emphasis on how biofuels and ethanol can be a path forward to a new structure for agriculture is really exciting.”
