API continues efforts to undermine the RFS

By Erin Voegele | September 17, 2013

The ethanol industry is speaking out against more misleading information released by the American Petroleum Industries as part of its push to repeal the renewable fuels standard (RFS).

On Sept. 17, the API released a preview of analysis it is sharing with member of Congress and held a conference call during which API Downstream Director Bob Greco said the RFS is “broken beyond repair.”

According to the API, the state of energy and the economy are different when compared to projections made when the RFS is established. The API calls the difference the “RFS reality gap.”

Growth Energy CEO Tom Buis has spoken out on the release of API’s skewed data, noting that the oil group has distributed misleading information in an attempt to roll back the most successful energy policy our nation has every enacted.

“Apparently API thought it was a good idea to make the 1,000th day that  gasoline has averaged more than $3 a gallon to announce a policy agenda designed to keep us addicted to fossil fuels foreign oil and high gas prices,” Buis said. “Talk about irony and a total disconnect from reality. We have lowered our foreign oil imports by approximately 20 percent since the RFS was enacted in 2005 and API wants to roll back our progress to retain their market share and record profits. Seems to me they are aiming for another 1,000 days of record profits and consumer pain at the pump.”

Buis also noted that API’s efforts are about market share. “Big Oil is looking to block any alternatives that are less expensive and threaten their bottom line,” he said. “It is time we end the status quo of the previous century’s energy policy. We must stop putting all of our eggs in one basket – it is dangerous for our national and energy security, and fails to invest in the American economy, domestic energy and innovation that will help usher in the next generation of renewable fuels to meet our nation’s growing energy needs.”