December 06, 2011
Growth Energy Statement
Author: Growth Energy
WASHINGTON, DC — Growth Energy, the leading coalition of U.S. ethanol supporters, issued the following statement in response to comments made by POET CEO and Growth Energy Chairman Jeff Broin on a press conference call today indicating that the ethanol industry can stand on its own without the blenders’ credit, which is set to expire at the end of the year.
“For more than a year, Growth Energy and its supporters have advocated for an open fuels market—one in which all competitive transportation fuels can compete without tax credits or subsidies. The blenders’ tax credit initially helped the ethanol industry develop but today, we don’t have a production problem, we have a market access problem. Without the tax credit, the ethanol industry will survive; it will continue to reduce our dependence on foreign oil, create jobs and strengthen our economy. However, without reform to open the market for alternatives to oil, like ethanol, the United States will remain an importer of fossil fuels, which are getting dirtier, riskier and costlier to extract every day,” said Tom Buis, CEO of Growth Energy.
