Electric vehicle production is on the rise, while corn ethanol usage during the pandemic faltered. The role of government is in flux as debates about the Renewable Fuel Standard and other policies continue. What will these factors mean for the future of biofuels, the agriculture industry, and the midwestern economy?

On Tuesday, November 30, 2021, held a virtual event where we explored the impacts of biofuels on the Midwest and related trends in agriculture. Serving as keynote speaker was Scott H. Irwin, who holds the Laurence J. Norton Chair of Agricultural Marketing in the Department of Agricultural and Consumer Economics at the University of Illinois at Urbana-Champaign.

The keynote speech was followed by an expert panel discussion on how biofuels could impact:

• Farmer’s cropping plans
• Farming’s future
• Greenhouse gas reduction efforts
• Public health concerns
• Vehicle and fuel mixes

Through events like this, the Federal Reserve Bank of Chicago serves the public, fostering economic opportunity and advancing a strong economy for our region and nation.