July 4th is the day we celebrate our nation’s independence; but, when it comes to energy, we are far from independent. Oil prices shot up sharply on Tuesday as international tensions mounted. Retail gasoline prices started to respond, jumping over 30 cents a gallon in some parts of Indiana. Tom Buis with Growth Energy says it is another chapter of the same old story, “How many times do we need to see this movie? We know how it is going to end with higher gas prices and an economic slowdown.” He told HAT the US cannot go back to sleep every time gas prices go down.
Buis says that the nation remains without an energy policy and that he is disappointed that energy is not a major issue in the presidential campaign, “We hear a lot of this mantra from policymakers and candidates about an all of the above strategy, but many times that means all of the above except renewable energy.” Buis added, “I don’t know how many oil shocks we have to have before our leaders realize we can do better.” He said he hopes the candidates would begin to address energy in a serious manner.
Buis said, as gasoline prices rise, it will increase the demand for and acceptance of e-15, “The economics will drive the use of E-15.” He said that will displace about 7 billion gallons of imported oil a year and will mean more jobs and economic activity here in the US.
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