U.S. not on target to meet biofuels output goal: panel

A load of corn is dumped from a truck into a receiving bin at the GreenField Ethanol plant in Chatham, Ontario, April 10, 2008. REUTERS/Mark Blinch

A load of corn is dumped from a truck into a receiving bin at the GreenField Ethanol plant in Chatham, Ontario, April 10, 2008.

Credit: Reuters/Mark Blinch

WASHINGTON | Wed Feb 3, 2010 1:31pm EST

WASHINGTON (Reuters) - The United States is not on target to meet a Congressional mandate to produce 36 billion gallons of biofuels a year by 2022 or produce 100 million gallons of cellulosic ethanol a year by 2010, a government inter-agency panel said on Wednesday.

"The recession has raised significant barriers to private sector capital financing and investment in new biofuels production," the panel said in a report.

(Reporting by Tom Doggett)
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