August 10, 2012
Growth Energy Responds to Today’s World Agricultural Supply and Demand Estimates (WASDE) Report
Author: Growth Energy
WASHINGTON, DC — Following the release of today’s World Agricultural Supply and Demand Estimates (WASDE) report, Tom Buis CEO of Growth Energy released the following statement:
“We all know that the drought has taken its toll on our nation’s commodity production. Yet even with the worst growing conditions in 57 years this it is still estimated to be the 8th largest corn crop in history thanks to today’s technology and the productivity of America’s farmers.
“We will have enough corn - in fact, USDA’s report demonstrates how the market is already working to cut demand as they actually increased available corn stocks at the end of the year - showing over one billion bushels of corn surplus. Ethanol production is already down 15 percent in the last month alone. Any attempt to change the Renewable Fuel Standard, our nation’s successful biofuel policy would simply be a knee-jerk reaction to the benefit of Big Oil. The current policy has flexibility built in for exactly these types of situations.”
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About Growth Energy
Growth Energy represents the producers and supporters of ethanol who feed the world and fuel America in ways that achieve energy independence, improve economic well-being and create a healthier environment for all Americans now.