Chicago, Ill. – (May 14, 2007) (AgNewsWire) The Chicago Board of Trade (CBOT) on Monday hosted Team Ethanol Driver Jeff Simmons and his 100 percent fuel-grade ethanol race car in a tribute to the “Greening of Racing” and a salute to the IndyCar® Series.
“Ethanol is sharing the track with a great American past time,” said Chicago Board of Trade Chairman Charlie Carey. “For the first time a renewable fuel will power a vehicle past the checkered flag at the Indy 500. Congratulations to the IndyCar Series.”
CBOT Executive Vice-President for Marketing and Business Development Chris Malo noted that the commodity exchange created ethanol contracts as a price discovery tool for the industry.
“When we launched our ethanol futures contract in March 2005, we knew we were early to the market place,” said Malo. “However, we recognized the increasingly important role that ethanol can play in meeting the nation’s energy needs before ethanol became a daily news story.”