During Wednesday night’s United State Senate Primary Debate, Indiana State Treasurer Richard Mourdock stated that ethanol increases the price of gasoline at the pump. In response, Indiana Ethanol Producers Association President Steve Pittman issued the following statement: “During tonight’s debate, Richard Mourdock made false statements about ethanol, which does a disservice to the over 3,500 Hoosier jobs dependent upon the state’s growing ethanol industry and does nothing to reduce the price at the pump.
Ethanol contributes $520 million dollars annually to Indiana’s Gross State Product and generates $3.4 billion in economic activity every year.
The fact is that Indiana-made ethanol brings down the price of gas. It is simple math; if you replace something that is more expensive with something that is less expensive, the price will go down. In fact, a recent study by the Indiana Corn Marketing Council found that ethanol resulted in savings to consumers of over $40 million in 2011.
Furthermore, the end of the Volumetric Ethanol Excise Tax Credit (VEETC) did not “mandate” that more ethanol be placed in our fuel supply, as Mourdock falsely alleged. Any increase of ethanol in the United States’ fuel supply; particularly to a 15 percent blend as has been approved by the Environmental Protection Agency (EPA) is purely voluntary by fuel retailers. Hoosiers deserve a choice at the pump.
Indiana deserves serious leadership. Mourdock’s statements tonight show a lack of knowledge about the ethanol industry and the boost it gives to our economy and our agricultural heritage
Senator Richard Lugar has been a steadfast supporter of Indiana’s ethanol and agricultural industries. As a farmer, Senator Lugar acutely understands its importance to working families and rural communities.”
Source: Indiana Ethanol Producers Assoc