WASHINGTON, DC — Following the National Council of Chain Restaurants (NCCR) release of a flawed study critical of the Renewable Fuel Standard (RFS), Tom Buis CEO of Growth Energy released the following statement:
“The true culprit behind rising food prices is the cost of energy, and in particular oil. Only 14 percent of the price of food is attributable to the cost of the commodity, while the rest can be attributed to energy costs and marketing. The processing, packaging, wrapping, storage, refrigeration and transportation costs are the true drivers in price increases. They are all energy intensive – it takes a lot to bring food from the farm to the table. And that does not include the countless dollars used to market a product.
“These groups distort the facts in order to justify higher profits, and ignore the fact that Americans pay the lowest per capita cost for food in the world. Follow the money – the less these big corporations have to pay their hard working farmers and ranchers to produce the food, the bigger dividends for their shareholders. This is a classic example of blame the little guy.
“The renewable fuels industry is a win-win for America. We are creating jobs and revitalizing rural economies, as well as improving our environment and decreasing our dependence on foreign oil – all while providing consumers a choice and savings at the pump.
“Biofuel producers are working to meet the energy needs of America, while corporate food retailers are desperate to protect their bottom line and the status quo, willing to blame anyone for higher costs to protect their profits.”
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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. For more information, please visit us at www.GrowthEnergy.org, follow us on Twitter @GrowthEnergy or connect with us on Facebook