Roger Johnson, president of the National Farmers Union (NFU) responded to legislation introduced by Sens. Tom Coburn (R-Okla.) and Ben Cardin (D-Md.) to repeal the Volumetric Ethanol Excise Tax Credit ( (VEETC). According to Johnson, it is unconscionable that Congress would consider imposing roadblocks to ethanol production.
Johnson said in an NFU press release:
“National Farmers Union is very concerned about calls for ending tax credits for ethanol. Now, more than ever, we need the stability and security of renewable energy produced in the United States. Ethanol continues to provide economic strength and good jobs in rural America. We are fighting two wars at least in part related to oil. Much of the Middle East is in political turmoil. Oil prices are being driven higher, potentially hampering our fragile economic recovery.
“In the face of this, it is unconscionable that Congress is even considering imposing road blocks to the development of home-grown, clean, renewable fuels. Dependence on foreign oil presents huge economic and national security vulnerabilities for our country, including driving up food prices at a time when many Americans are struggling to make ends meet.
“Biofuels must be allowed to compete with petroleum-based fuels so that consumers have a real choice at the pump instead of continuing to send billions of dollars overseas. Long before Congress should even consider reducing support for ethanol, they ought to be looking at the enormous subsidies for oil, which are ten times larger than those for ethanol.”
Source: National Farmers Union