Agricultural News
Growth Energy Calls Feinstein/Coburn Legislation 'Shortsighted Policy'
Thu, 12 Dec 2013 14:34:48 CST
In response to the introduction of the Corn Ethanol Mandate Elimination Act of 2013, newly introduced legislation sponsored by Senator Diane Feinstein (D-Calif.) and Senator Tom Coburn (R-Okla.), Tom Buis CEO of Growth Energy issued the following statement:
"This legislation is incredibly shortsighted as it will eviscerate the RFS - the most successful energy policy enacted in the last 40 years. It will continue to keep us addicted to foreign oil and more than anything, it seems like this legislation is appeasing the wishes of Big Oil and Big Food.
"Additionally, this legislation is based on false, misleading information. To blame ethanol for an increase in the price of food may make for good rhetoric, but it is completely devoid of any facts to back it up. Corn ethanol is not the cause of high prices; it is the price of oil. Even the World Bank outlined how crude oil prices are responsible for 50 percent of the increase in food prices since 2004. Countess studies have shown that record-high oil prices, Wall Street speculators and the high costs of manufacturing, packaging and transportation are the true culprits driving up food prices.
"Furthermore, the authors of this legislation fail to understand the actual process of how ethanol is produced. Only the starch is removed, while all of the valuable components - the fiber, oil and protein is returned to the food chain in the form of a high protein animal feed.
"When it comes to environmental benefits, corn ethanol has been shown to reduce greenhouse gas emissions by as much as 59 percent, and the 13.3 billion gallons of ethanol produced in 2012 has the effect of reducing emissions by 33.4 million tons, the equivalent to removing 5.2 million cars and light duty trucks off the road.
"If such legislation were to move forward it would embrace the status quo of our dependence on foreign oil, concede we no longer are 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.
"It appears to me, this legislation is nothing more than a concession to demands of Big Oil and Big Food, who care more about their own bottom line, than the American consumer. Furthermore, this is a slap in the face to consumers who deserve a choice and savings when they go to fill up at the pump."
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