WASHINGTON, DC – Permanent tax subsidies have given Big Oil a monopoly in the fuels market and discouraged development of alternative fuels that can reduce our dependence on foreign oil, create jobs and boost our economy according to Growth Energy, the leading coalition of U.S. ethanol supporters.
Tom Buis, CEO of Growth Energy, said:
‘Enough is enough – oil has been subsidized for more than 100 years. They enjoy record profits, yet still are some of the biggest hogs at the trough for tax credits. While the ethanol industry has agreed to reform the tax credits for blending ethanol into gasoline, it is time for big oil to do the same. In fact, they lobbied to end tax credits for ethanol, yet continue to defend their own federal tax breaks.”
About Growth Energy
Growth Energy represents the producers and supporters of ethanol who feed the world and fuel America in ways that achieve energy independence, improve economic well-being and create a healthier environment for all Americans now.