Senators Dianne Feinstein and Tom Coburn have introduced the Corn Ethanol Mandate Elimination Act of 2013. Growth Energy CEO Tom Buis says the legislation is short-sighted and will gut the most successful energy policy enacted in the last four decades, the Renewable Fuel Standard. He says the bill is based on false, misleading information. Buis says corn ethanol is not the cause of high food prices. He notes the World Bank has outlined how crude oil prices are responsible for 50 percent of the increase in food prices since 2004. Buis says countless studies have shown record-high oil prices and other factors are the true culprits of driving up food prices. As for environmental benefits, Buis points out that corn ethanol has been shown to reduce greenhouse gas emissions by as much as 59 percent.
The 13.3 billion gallons of ethanol produced in 2012, he continues, has the effect of reducing emissions by 33.4 million tons — the equivalent of removing 5.2 million cars and light duty trucks off the road. If legislation like this were to move forward, Buis says it would embrace the status quo of our dependence on foreign oil, concede we are no longer serious about reducing greenhouse gas emissions, and seek to pursue a policy that would result in massive upheaval and job loss in today’s booming rural economy.
Source: NAFB News Service