As gas prices spike, ethanol offers stability and savings -Ethanol Producer Magazine
By Growth Energy - Aug. 30, 2012
This Labor Day weekend, millions of Americans plan to hit the open road and enjoy the last bits of summer. But with gas prices spiking toward $4 per gallon, many Americans are electing to stay home. The oil companies are quick to blame Hurricane Isaac for causing the sudden inflation, but the truth is, the increases continue even as reports come in that damage to refineries in the Gulf of Mexico suffered little, if any damage.
"The oil market is so volatile and ethanol has served as a stabilizing factor that can help control costs by providing a level of certainty," stated Tom Buis, CEO of Growth Energy. "Ethanol currently makes up 10 percent of our nation's fuel supply and it has helped prevent extreme spikes in gas prices. Independent studies have shown that the inclusion of ethanol has saved consumers from $0.17 cents to $1.09 a gallon."