API Releases More of the Same Old, Disproven Misinformation

WASHINGTON, DC — Following the American Petroleum Institutes’ recent release of skewed data used to advance their flawed agenda to repeal the Renewable Fuel Standard (RFS), Tom Buis CEO of Growth Energy released the following statement:

“Once again, API has held another press conference to distribute misleading information in an attempt to roll back the most successful energy policy our nation has ever enacted and prevent consumers from choice and savings at the pump.

“Apparently API thought it was a good idea to make the 1,000th day that  gasoline has averaged more than $3 a gallon to announce a policy agenda designed to keep us addicted to fossil fuels foreign oil and high gas prices.

“Talk about irony and a total disconnect from reality. We have lowered our foreign oil imports by approximately 20 percent since the RFS was enacted in 2005 and API wants to roll back our progress to retain their market share and record profits. Seems to me they are aiming for another 1,000 days of record profits and consumer pain at the pump.

“The price of oil is controlled by a monopoly called OPEC. It is traded on a global market and regardless of domestic production, without alternatives, gas prices will continue to set new records and burden the American motorist.

“Currently ethanol is trading 80 cents lower that regular unleaded gasoline. This is about market share, plain and simple. Big Oil is looking to block any alternatives that are less expensive and threaten their bottom line.

“It is time we end the status quo of the previous century’s energy policy. We must stop putting all of our eggs in one basket – it is dangerous for our national and energy security, and fails to invest in the American economy, domestic energy and innovation that will help usher in the next generation of renewable fuels to meet our nation’s growing energy needs.”

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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.