Following the media teleconference by the American Fuel and Petrochemical Manufacturers (AFPM) attacking the Renewable Fuel Standard (RFS) and falsely blaming increased gas prices on renewable fuels, Tom Buis CEO of Growth Energy released the following statement: wholly “Manipulating data and spreading misinformation is not the way to educate lawmakers and drive policy decisions. Our energy security is a matter of domestic and national security, and the fact is the fossil-fuel-only approach of oil companies and refiners will do nothing for our growing energy needs except continue to feed our addiction to foreign oil and line the pockets of oil executives.
“It seems unconscionable that AFPM would state that the presence of E15, the most tested fuel ever, would limit consumer choice if offered in the marketplace. However, when it comes to oil companies and refiners, they will say and do anything to protect their interests and bottom line. While they pretend to advocate for the consumer, they are actually intentionally blocking a choice and savings at the pump, while taking in excessive profits at the consumer’s expense.
“With regards to RINs, what we have here is a classic example of unregulated market manipulated by oil companies running wild. The biofuels industry creates RINs, but they have no place in the trading market – that is between oil companies and refiners. They are the ones driving this entire process, intentionally driving up prices as a way to blame other industries for their increasing profits and unending costs at the pump. I welcome Congressional oversight and an investigation to shed some daylight on these questionable practices.
“It is time for oil companies and refiners to get out of the way and let consumers and retailers make the voluntary decision to use higher fuel blends, such as E15. I am confident that once E15 becomes widely available, consumers will chose the homegrown fuel that helps support our economy and is better for our environment. And that is exactly what oil companies and refiners are afraid of – losing market share through fair market competition. So, they will stop at nothing to distort the facts and bend the truth to maintain the near monopoly they have on the liquid fuels market.
“Enough is enough – it is time to identify this ongoing blame game for what it actually is – an orchestrated sham by the oil companies and refiners to manipulate markets, cause panic and attempt to use false data to blame an industry that has grown to be a threat to their record profits and bottom lines.
“Bottom line – ethanol saves consumers at the pump and any information stating otherwise is simply false.”