James. “The Biodiesel Industry: Impacts on the Economy, Environment and Energy Security.” Margaret Guerin-Calvert | Senior Managing Director | FTI Consulting, FTI Consulting, Inc, 29 Nov. 2018, www.fticonsulting.com/insights/reports/biodiesel-industry-impacts-economy-environment-energy-security.
FTI consulting analysed 2017 financial and production data to see the impacts the biodiesel industry has on the US economy. The economic output of biodiesel is estimated to be $21.6 billion each year. The industry employs around 61,900 workers. It accounts for around 1.2 billion federal taxes. Biodiesels reduce greenhouse gas emissions by 14.8 million tons every year. This is equivalent to taking 3.2 million cars off the road. Biofuels also help the US become less reliant on the fossil fuel industry.
All of these factors shows what good the biodiesel industry does for the US as a whole. This is good for the environment because switching to renewable fuels like biodiesel reduces the amount of ghg emissions humans produce. Not only does biodiesel help save the planet, but it also employs people and adds to the US economy. If continued resources are invested in biodiesels, this fuel could help reduce carbon emissions further and boost the US economy.