Biden Releasing Petroleum From Reserve, Ethanol Not Happy

Farm and renewable fuel supporters weren’t happy that the Biden administration is allowing the release of petroleum from the strategic oil reserve. The Hagstrom Report says the White House is making the move in response to high gasoline prices. Ken Colombini of the Renewable Fuels Association, says it’s baffling to his organization that the president continues to bypass ethanol. “it’s the most readily-available, lowest-cost, and lowest-carbon option for extending the nation’s fuel supply,” Colombini says. “Rather than draining the strategic reserve and scolding oil producers for not increasing production, it’s a better idea to empower farmers and ethanol producers.” The RFA also points out that ethanol is selling for one dollar per gallon less than gasoline, and the country is sitting on record ethanol inventories and spare capacity. “Simple administrative actions would immediately reduce pump prices without harming our environment’s health,” Colombini adds. “Let us help address the crisis.”

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