The Consumer Federation of America, a consumer watchdog group, says big oil companies are trying to stop the growth of the ethanol industry… and Big Oil is using consumers’ pocketbooks in the fight.
In a report entitled “Big Oil’s Choke Hold: How Competition from Ethanol Can Help Lower Gasoline Prices for Consumers,” CFA charges that oil companies have used their market power to limit the supply of gasoline, keep consumer prices and profits high while opposing policies that would increase fuel supplies and lower prices. The report goes on to say that the increase in ethanol should have had the opposite effect. This comes from a CFA press release:
“This week when they announce their profits, the major oil companies will once again report huge windfalls at the expense of consumers who are paying record prices at the pump,” said Dr. Mark Cooper, CFA’s Director of Research. “The major oil companies have not only systematically failed to increase their refining capacity to meet growing gasoline demand, but now, threatened with
competition, are fighting hard against policies to expand production of ethanol and alternative fuels.”
The report goes on to say Big Oil has threatened to offset ethanol’s increasing production by cutting back its refining of gasoline and diesel fuel in an effort to restrict ethanol refining. Cooper also says oil company mergers have made it easier for the handful of companies to keep those gasoline supplies tight.
You can read all of CFA’s report by clicking here.
Add Sen. Hillary Rodham Clinton to the list of folks who suddenly seem to be a friend of ethanol. Just like in 
The National Biodiesel Board today called for passage of the U.S. House’s version of the Farm Bill – H.R. 2419, the Farm, Nutrition, and Bioenergy Act of 2007 – especially the parts referring to biodiesel. 
“The NBB believes these energy initiatives are critical in continuing to make biodiesel an important part of a diverse energy portfolio,” said Joe Jobe, NBB CEO. “As the bill moves forward, we will continue to work with our partners in Congress to ensure that necessary funding is provided for these programs, and that the Bioenergy Program is ultimately structured in a manner that will best help the U.S. biodiesel industry reduce America’s reliance on foreign oil.”
A middle school student from Merritt Island was in the spotlight at the 2007 Florida Farm to Fuel Summit last week in St. Petersburg for her work in making biofuels.
The main focus of the Florida Farm to Fuel Summit in St. Petersburg last week was getting biofuels production going in the Sunshine State.
“We have the only existing fuel ethanol plant in Florida,” said Banks. “With an aim of being up and running by the summer of 2008. For that, we need about four million bushels of something.”
“In the longer term, in my judgment, the fuel of the future is going to be hydrogen,” Dorgan said. “I’m a big fan of the biofuels, I’m a big fan of ethanol, I believe it’s enormously important that we’ve invested in wind energy. But I believe —especially in the longer term — our grandkids need to be driving vehicles that put water vapor out the tailpipe and have twice the efficiency of power to the wheel. That comes with hydrogen fuel cells. It allows us to say to the Saudis and the Kuwaitis and others, ‘We don’t need your oil.’”
Marathon Oil Company is now pumping biodiesel at two of its terminals in Illinois.
VeraSun Energy will hold a grand opening ceremony for its 110 million-gallon-a-year ethanol plant at Charles City, Iowa on August 17th, 2007.
Ryan Hunter-Reay said he would be happy if his first IndyCar Series race ended with a “top 6 or 7” finish and he got his wish. He finished seventh, overcoming some mechanical problems in practice.