WASHINGTON, DC — Today, an opinion in the Pittsburgh Tribune-Review prematurely called for an end to the Renewable Fuel Standard (RFS). It was falsely alleged the RFS reduces competition, and worse that ethanol “still costs more” than gasoline. In reality, latest findings show ethanol saves an average of $1 per gallon at the pump, a huge boost for American consumers as we embark on the summer driving season.
“The RFS is a sound energy policy that moderates gasoline prices, reduces overreliance on expensive foreign imports, and reinvests American money into the American economy,” said Growth Energy President Jim Nussle. “In fact, the RFS is truly America’s only coherent energy policy.”
Further, the RFS does not provide the industry with an unfair advantage. Nussle continued, “Instead, this policy encourages the diversification of the American energy basket – a vital step toward enhancing our nation’s energy security and overall prosperity.” The strategy encourages the increased introduction of renewable, alternative fuels into the marketplace, thus improving competition, leveling the playing field in a sector typically monopolized by the oil industry.
Efforts to amend or reform the RFS would send a chilling signal to the market, particularly when domestic biofuel industries are on the cusp of commercial production. Without this strategy, it would be nearly impossible for America to achieve true energy independence, security and prosperity. Anything short of full support for the RFS exacerbates the problem of increased gas prices, and undercuts the ethanol industry’s efforts to provide innovative, and better, alternatives to big oil.
# # #
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.