With dire news reports out of Libya sending skittish oil markets higher and higher representatives of the U.S. ethanol industry warned that Congressional maneuvers to block already-approved levels of ethanol from reaching the market would only worsen the impact of high fuel prices. Tom Buis, CEO of Growth Energy, says some in Congress would have us continue a policy that would keep us addicted to foreign oil even as political upheaval in the Mid East and North Africa push gas prices up to a prediction of $5 a gallon.
"This is no time for Congress to block the only commercially-viable alternative we have to foreign oil – American ethanol," Buis said. "Action to block E15 and block the installation of blender pumps is the wrong move at the wrong time for the wrong reasons. If the nation were to fully adopt E15, it would mean American ethanol would displace a full tanker of foreign oil imported daily to the United States."
Last week, the U.S. House of Representatives adopted legislation that would inhibit the movement of American-made ethanol into the U.S. fuels market. Buis says the House amendments have no place in law, and they are urging the Senate to oppose any similar efforts when they take up the spending bill on their return.
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