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Lynd 5 (1:03)
Topic(s): Biofuels
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Video Transcript

The beverage applications of ethanol are familiar to all of us in beer and wine, distilled spirits, etc. These have been around for many hundreds of years. When Henry Ford was designing his first generation cars back at the turn of the last century, he envisioned in fact that ethanol would be the fuel. And at that point there was no demand for large-scale liquid fuel production, so it wasn't like gasoline stations were on every corner. These things have to evolve together.

As it happened, as we all know, it evolved in the direction of using the country's at that time plentiful oil resources to make liquid fuels. And we learned an awful lot about how to dramatically increase the fuel yield from a barrel of oil, for example, many-fold. And at this point we have a tremendous amount of experience and know-how, all of which makes that industry very efficient and somewhat hard to compete with, at some level.