Growth Energy Responds to Call for Tapping Strategic Reserve

Growth Energy CEO Tom Buis released the following statement in response to a story in the National Journal, Former OPEC Official to Obama: Tap Oil Reserves, which suggests the United States tap oil reserves to compensate for rising oil prices as fighting in Libya continues.

As these prices continue to rise, consider Growth Energy’s position that the U.S. ethanol industry has enough capacity right now to make a difference to consumers, not just for the short-term, but for the long-term.

Growth Energy CEO Tom Buis said, “As the nation considers whether to sell off a portion of the strategic oil reserves, we’d recommend first that we lift the artificial barriers that prevent more homegrown ethanol from entering the U.S. fuels market. Simply allowing the U.S. Environmental Protection Agency to implement its approval of our Green Jobs Waiver for E15 would do for the long-term what a one-time sell off of oil reserves would do in the short-term: ease gasoline prices for everyday Americans, not just for today, but for tomorrow and later as well. Every day, the foreign oil we import is getting costlier, riskier and dirtier to extract. The only significant step our nation has taken to reduce our dependence on foreign oil today has been the use of E10. We can do more with greater access to higher levels of ethanol. ”