ICGA Opposes Waiving the Renewable Fuels Standard
Prairie Farmer (Illinois)
Compiled By Staff
May 8, 2008
Discussions in Washington, DC related to waiving the nation's Renewable Fuels Standard (RFS) are ill-advised and would have serious unintended consequences that would result in higher fuel and food prices, according to the Illinois Corn Growers Association (ICGA).
"This is bad policy and tantamount to waiving the white flag in the battle to make our nation less dependent on unstable and unfriendly governments," says Art Bunting, ICGA president. "The primary influence on higher food prices right now is $120 barrel oil. The oil industry made $123 billion in profits last year. That's enough to buy the world corn crop or 70% of the world wheat crop."
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