We are already at the end of January 2018, so looking back to the final quarter of 2017 almost seems a distant memory. However, several things happened during the fourth quarter of the year that are noteworthy.

In November, EPA established the RVO (Renewable Volume Obligation) for 2018, and our industry was pleased with the outcome. Corn based ethanol blending volume was set at 15 billion gallons annually. “Maintaining the renewable fuel standard at current levels ensures stability in the marketplace and follows through with my commitment to meet the statutory deadlines and lead the Agency by upholding the rule of law,” said EPA Administrator Scott Pruitt. In recent years, the annual volume hasn’t been determined and set prior to the beginning of the year, so this is a strong step forward.

As domestic industry, we are currently producing at a level slightly exceeding 16 billion gallons annually. As a result of this record production, we must also depend on exports, which in 2017 were very strong. There is good evidence that exports will continue to grow.

We continue to push for higher blends of ethanol and felt 2017 would be the year for passage of the Reid Vapor Pressure waiver to allow e15 to be sold year-round, but that battle continues. Higher blends will continue to increase demand for our product. We also continue to battle misinformation and strive to educate those who are uninformed of the value of ethanol to agriculture, as well as the environment, at a lower cost to consumers.

2017 was another good year for Show Me Ethanol, LLC. We produced more ethanol than any year yet, generated a profit of $8.7 million and returned $15 million to our members. Even with the ongoing battles in Washington, we continue to succeed. Let’s look forward to 2018 with a strong sense of accomplishment and optimism that we will have another successful year.