According to Farm Bureau Federation senior economist Terry Francl, gas would cost 5 to 10 cents more per gallon if it was not blended with the corn-based fuel.
Francl also said that consumers and taxpayers are saving $7 billion to $14 billion in gas costs as a result of increased ethanol use.
Higher oil costs have increased gasoline 70 cents per gallon prices over the past year. And oil companies have been quick to shift the blame to farmers and ethanol.
“It’s easy to say the growth of the ethanol industry is leading to higher fuel and food prices, but that’s just not the case. Complex and overlapping issues that developed over several years are at play, and the growing use of ethanol actually helps keep gas prices from going even higher.”Francl made these points at the National 25 x '25 Renewable Energy Summit earlier this month.
"25x'25" is a rallying cry for renewable energy and a goal for America – to get 25 percent of our energy from renewable resources like wind, solar, and biofuels by the year 2025.
Source: 25x'25, American Farm Bureau Federation
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