This is all nice and good, but saying that the cost of being addicted to oil if a huge burden is not the same as delivering us from it. And that sort of deliverance is not something that ethanol alone can bring. Sure, EPIC is careful to place the biofuel in league with other oil alternatives, but a lot more needs to be done than just putting our eggs in the corn basket.
[Source: Robert White, Interim Executive Director, Ethanol Promotion and Information Council (EPIC)]
Ethanol Promotion and Information Council (EPIC) Responds to Record Oil Prices
OMAHA, Neb., Jan. 2 /PRNewswire/ -- While ethanol detractors continue to spend millions mounting a smear campaign against alternative fuels, consumers bear the brunt of the economic pain as oil prices trade above the $100.00 a barrel mark.
Record oil prices translate into record profits for the petroleum industry. The impact upon the economy is being felt in many business sectors. Motorists struggle with gas prices that are 85 cents higher a gallon than a year ago, and record heating oil prices present tough choices for many homeowners. Family budgets are stretched thin. American consumers continue to be powerless as they endure rising energy costs and frequent supply shortages.
America's foreign oil bill continues to climb, to a record total of nearly one billion dollars a day, and oil from the Middle East accounts for approximately 17 percent of U.S. oil imports. This business as usual approach is a failure.
The American public is looking for realistic solutions to our dependence on a dwindling supply of energy of which ethanol plays an important role. Once again, the ethanol industry will rise to the challenge and continue to provide a renewable, efficient, economy boosting product for Americans. Without ethanol, the cost of our oil addiction is far too great.