Source: Growth Energy



Growth Energy released the following statement regarding the U.S. Energy Administration's recent report on oil use in America:



The U.S. Energy Administration recently released its Annual Energy Outlook 2009, projecting U.S. energy consumption and production through 2030. Due to the use of biofuels, oil use has become flat and will continue to remain flat as biofuels use continues to increase. However, the "consensus" from several media outlets is, "EIA report says ethanol production will fall short of RFS in 2010." To the unbiased observer, the real news has been overlooked.



Historically, the ethanol industry has risen to the challenges presented by a volatile world oil market. When oil prices hit historic highs, several economic reports cited ethanol?s role in helping to reduce all-time high gas prices by at least 15 percent. When several areas across the country were affected with severe weather which incapacitated several oil refineries, ethanol was able to fill the gap between consumer demand and availability. And as more biofuels are needed, specifically in the area of cellulosic ethanol as outlined in the RFS, the ingenuity of the American ethanol industry won't let us down.



The ethanol industry continues to move forward on the commercialization of cellulosic ethanol, spurred by the growth and development of the corn-ethanol industry. We will continue to be an integral part of America's quest for energy security. By investing in the future and banding together, we can reduce our dependence on expensive foreign oil, but energy independence will take all of us. It will require conservation, choosing clean renewable fuels such as ethanol and investing to find new domestic renewable energy resources. We look forward to the 2010 Energy Outlook which will again highlight America's reduced need for foreign oil due to biofuels.