Growth Energy: Same Old Song from Big Oil

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Aug 08, 2012, 01:39 ET

American Petroleum Institute continues to peddle same misinformation on Renewable Fuel Standard and ethanol

WASHINGTON, Aug. 8, 2012 /PRNewswire-USNewswire/ -- In response to Big Oil's latest attack on the Renewable Fuel Standard, Growth Energy CEO Tom Buis issued the following statement:

"When the Renewable Fuel Standard was passed by Congress and signed into law by President George W. Bush in 2007, it set goals to reduce our nation's dependence on foreign oil, and encourage the production of cleaner, home grown alternative fuels by 2022.

The RFS is working! First generation ethanol is exceeding its goals and is now 10 percent of our nation's gasoline consumption. Next generation fuels such as advanced and cellulosic are progressing, and given time will meet the goals outlined in the most significant energy policy ever enacted by the federal government.

Pulling the plug on the RFS would be the wrong move at the wrong time for the wrong reasons.

The gall of API to suggest biofuels do not improve our air quality and environment is laughable. Biofuels are cleaner than oil under all circumstances.

API makes further ridiculous assumptions when grasping to tie biofuel production to alleged increased food prices. Countless academic, economic and government studies reiterate that higher food prices are much more affected by energy costs, such as oil and gasoline, than the cost of farm commodities.

This report is nothing new, and only continues to keep our nation addicted to foreign oil. Ethanol reduces our dependence on foreign oil, creates jobs right here in America, improves our environment, revitalizes rural communities and saves consumers at the pump."

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.

SOURCE Growth Energy