08/17/2011
NAFB News Service
Speaking in Illinois this week, President Obama said he wants to develop additional renewable fuel technologies. The Renewable Fuels Association says in order to responsibly remodel and expand America's renewable fuel house, we must first make sure the foundation is secure. That includes expanding the market for ethanol blends and aggressively implementing the Renewable Fuel Standard while simultaneously investing in new renewable fuel technology.
According to RFA, without question, there would not be a market for the emerging renewable fuels President Obama discussed were it not for the success of the existing ethanol industry. At ten percent of the nation’s gasoline market, current domestic ethanol supplies are reducing our demand for imported oil, mitigating the environmental destruction caused by an overreliance on fossil fuels, and most importantly, creating hundreds of thousands of jobs that cannot be outsourced.
An issue raised at the President’s event revolved around existing ethanol production and grain supplies. Put simply, the RFA says - the existing ethanol industry has not "diverted" grain away from other uses. Rather, annual grain supplies have grown large enough to satisfy increased demand from all end users. Moreover, any negligible increase in consumer food prices that might be attributable to ethanol is more than offset by ethanol's ability to substantially reduce the average American family's yearly gasoline bill.
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