The Minnesota Corn Growers Association (MCGA) is extremely disappointed in the Environmental Protection Agency’s (EPA) proposal to lower ethanol blending goals for 2014 set in the Renewable Fuels Standard (RFS). The RFS is reducing our dependence on foreign oil and lowering prices at the pump. In other words, said MCGA President Ryan Buck, it’s working exactly as it was intended and there is no need to change it.
“By calling for a reduction in the amount of ethanol we blend with gasoline, EPA is sending a message that America is not committed to developing a domestically produced renewable energy source that is a viable alternative to foreign oil,” Buck said. “The RFS finally provided long overdue competition for the oil industry in the transportation fuels market. Now is not the time to cave into Big Oil’s demands and limit choices at the pump. Today’s proposal will increase record profits enjoyed by oil companies while squeezing consumers.”
Today’s proposed rule cuts 1.4 billion gallons from the conventional ethanol cap that was set in statute at 14.4 billion gallons.
Corn prices are falling and projections show farmers harvesting the largest crop in American history. A cut to the RFS will have serious repercussions throughout the entire economy – especially in rural areas that rely on agriculture. It also sends the wrong message to consumers who are demanding a less expensive and cleaner alternative to foreign oil.
Once the proposal is published in the Federal Register, it will be open to a 60-day public comment period.