The Renewable Fuels Association (RFA), along with seven other biofuel-related organizations, have sent a letter to key members of Congress recapping the success of the Renewable Fuels Standard (RFS). The letter says ethanol has proven its ability to lower gas prices and reduce this country’s dependence upon foreign oil.
The letter, sent to Senate Majority Leader Harry Reid, D-Nev., Senator Minority Leader Mitch McConnell, R-Ky., House Speaker John Boehner, R-Ohio, and House Minority Leader Nancy Pelosi, D-Calif., also noted that any changes to the RFS could dampen investment in the development of next generation biofuels.
The letter signatories were: the American Coalition for Ethanol (ACE), the Advanced Ethanol Council (AEC), Biotechnology Industry Organization (BIO), the Energy Future Coalition, Growth Energy, the National Corn Growers Association (NCGA), the Renewable Fuels Association (RFA), and the 25x25 Alliance.
Highlights of the letter include:
“Today, ethanol is approximately $1.00 cheaper than gasoline and blending ethanol into U.S. gasoline saves consumers at the pump,” according to the letter. A Center for Agriculture and Rural Development analysis found that from 2000-2010, ethanol reduced gasoline prices at the pump an average of $0.25 per gallon which meant consumers annually saved $34 billion dollars.
“Thanks in part to the RFS, U.S. oil imports fell below 50% in 2010 for the first time since 1997, and, oil imports stand as just 45% today. Ethanol accounts for 81% of all new domestic fuel production since 2005,” the groups stated.
“Because of the RFS, the advanced and cellulosic biofuels industry is now in the process of building new plants, innovating existing production facilities with emerging technologies, and introducing new product streams that will allow the renewable fuels sector to become more profitable, diversified and efficient,” the groups wrote.
Read the full letter.
Source: Renewable Fuels Association