NeCGA president Randy Uhrmacher has written a commentary that discusses the high profits of the oil industry, how high oil prices are impacting everyone and nearly everything. And that ethanol does not play a significant role in food prices.
For the full commentary, which has appeared in several newspapers across the state, click here; but here's his conclusion:
The simple truth is, if it weren’t for biofuels like corn ethanol, we’d be paying considerably more at the pump, and transportation and processing costs for food companies would be even higher than they are today. Iowa State researchers estimated that without ethanol, gasoline would be 29-40 cents per gallon more than it is today. Merrill Lynch reported ethanol lowers gas prices at least 15 percent.
The bottom line is, ethanol is saving consumers billions of dollars. At the same time, its providing thousands of jobs in rural communities, providing numerous environmental benefits and is helping pave the way for biofuels of the future. The best part? It’s available today!
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