IARN — The COVID-19 pandemic hit the American economy hard. We are still feeling the ripple effects of it almost two years later. Of course, some sectors of the economy took it harder than others. Many of those were reliant on travel and human interaction. When you have lockdowns and people working from home, you do not have anyone helping those businesses prosper.
Fuel producers took a large hit during the peak of the pandemic response. In Ankeny, there was one day I only paid 74 cents for a gallon of gas. That was the cheapest I have ever paid in my driving lifetime. When you have no demand, you must practically give away your product. That didn’t bode well for biofuels either. Ethanol was particularly hard hit with the loss of fuel demand. In 2020, many attempts were made to get support for the biofuels industry, but it just always seemed to get left along the wayside, while other industries received their help.
Hear the complete interview with Iowa State Director of USDA-RD Theresa Greenfield at Iowa Agribusiness Radio Network.
Above photo: USDA-RD Iowa State Director Theresa Greenfield. (Photo courtesy of USDA Rural Development)
