Corn Ethanol Mandate Elimination Act Introduced…Again
March 27, 2015 - Issue #206View Full Issue
In an attempt to undercut the federal Renewable Fuel Standard (RFS), Senators Dianne Feinstein (D-Calif.) and Pat Toomey (R-Pa.) once again introduced the Corn Ethanol Mandate Elimination Act that operates under the misguided assumption that the RFS is driving up food prices.
“Senators Feinstein and Toomey continue to operate under the misguided assumption that the RFS is driving food prices higher. It is not. Corn is less expensive today than when the RFS was passed!” stated Renewable Fuels Association (RFA) President Bob Dinneen. “As the World Bank recently concluded, ‘most of the contribution to food price changes from 1997-2004 and 2005-2012 comes from the price of oil.’
“The sad irony of the Feinstein-Toomey effort is that, if passed, the sector most likely to be harmed would be the advanced and cellulosic technologies that are just now realizing commercial success. This bill would desolate investment in that nascent sector by crushing the foundation upon which those new technologies hope to build.”
“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 are returned to the food chain in the form of a high protein animal feed.”Growth Energy CEO Tom Buis responded to the proposed legislation stating, “Just like their previous failed attempt, this legislation is incredibly shortsighted. Nearly identical legislation has been introduced in the past and has always failed to gain any traction since a majority of senators understand the importance of homegrown, American renewable fuels. This bill would 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.
Buis added, “If this legislation was adopted, it would embrace the status quo of our dependence on fossil fuels and 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.