Are you interested in investing in ethanol? Did you know that it is one of the most ecological fuels so far? Read this post and learn how to start investing in it with an API!
Ethanol is a chemical compound obtained from the fermentation of sugars that can be used as fuel, alone or mixed in various amounts with gasoline, and its use has been extended mainly to replace the consumption of petroleum derivatives.
Ethanol, in its use as fuel can be through the mixture with gasoline or in its pure state, enters the name of the so-called biofuels, since it is obtained from the biomass of a plant species, in this case Sugarcane.
In addition to being one of the most important biofuels, ethanol is a renewable resource, since it comes from biomass. This new biodiesel greatly reduces the amounts of gasoline used. This leads to a reduction in the use and import of hydrocarbons and favors the use of national renewable natural resources, in addition to helping to reduce pollution by producing less burning.
The countries that consume the most ethanol are the United States, Brazil, China and Canada. Canada, for example, would produce an estimated 1.83 billion liters of fuel ethanol this year, up from 1.75 billion liters in 2021. The imports are expected to reach 1.37 billion liters this year, down from 1.39 billion liters in 2021.
Currently, with the war between Russia and Ukraine, many economists are trying to find an alternative way to buying fuel from Russia, so they are trying to move their finances to cheaper and more ecological fuels such as those produced by Canada in Alberta refineries. For this, they used Commodities-API.
What Is Commodities-API?
Commodities-API is a platform that provides free and virtual access to every sort of money and goods from its 170 selections via an API, or application programming interface. The data is acquired in real time, with two decimal places of precision and a one-minute response time.
How Is It Used?
It´s quite easy to use! Just follow these instructions:
- Log into the website
- Get an API-key
- Select the currency (CAD) and commodity (ETHANOL) of your choice.
Where Does The Information Come From?
Commodities-API obtains its data from fifteen highly dependable sources, such as banks and financial markets, which send data every minute.
Can I Obtain Information From Previous Analyses?
Yes, “historical rates” are available among most currencies, and have been since August 2021. You may request to the API for historical rates by adding a period pf time in this format (YYYY-MM-DD) to the basic URL.
Visit their website for additional details.