WASHINGTON, DC — In response to the National Council of Chain Restaurants (NCCR) efforts to repeal the most successful energy policy this nation has enacted in the last 40 years, Tom Buis CEO of Growth Energy released the following statement:
“If the NCCR is looking for the culprits behind increased food costs they should look no further than the mirror and at their supporters at Big Oil who have relentlessly pursued the efforts to repeal the Renewable Fuel Standard. They are trying to blame the ethanol industry to justify their actions of constantly increasing food prices.
“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 food prices will follow with ever increasing oil and energy prices.
“The fact of the matter is that the true driver in food costs is energy prices. It is Big Oil that is costing the consumer both at the pump and at the grocery store. In fact, according to a recent World Bank study, the biggest driver by far of world food prices has been crude oil—responsible for almost 50 percent of the change in food prices since 2004.
“So, the retail industry is either gouging the consumer, or covering increased non-livestock costs such as those incurred due to rising oil and energy prices or both.”
“It seems the NCCR’s end game is to blame the ethanol industry and revert to the days of cheap, government subsidized corn, which, astonishingly, they believe they are entitled to, so that they can earn higher profits at the expense of our nation’s consumers and farmers.
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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.