With a record corn crop and low corn prices, efforts to change the Renewable Fuel Standard are coming at the worst possible time for America’s farmers, the National Corn Growers Association said.
“Corn ending stocks – the amount above and beyond current demand – are estimated at nearly 2 billion bushels this year, thanks to two back-to-back record harvests,” said NCGA President Chip Bowling, a corn farmer in Maryland. “And with corn selling at low prices, any legislative attempt to cut one of our key markets will drive prices even further below cost of production. We have a policy that works well not just for the environment and energy security – but for the rural economy. We need to support farmers, not bankrupt them.”
In reference to an attempt in the Senate to attach an anti-ethanol amendment to the Keystone XL legislation, NCGA pointed out the many benefits of ethanol and the reason why it’s an important part of our fuel supply.
“Corn ethanol is better for the environment than fossil fuels and has historically lowered the cost of filling our tanks by nearly a dollar,” said NCGA Director of Public Policy Beth Elliott. “It has been proven that ethanol does not have an impact on the price of food. Ethanol has proven itself on the racetrack and NASCAR drivers have driven more than six million miles on the fuel. The Renewable Fuel Standard is working – creating clean, renewable, American-grown energy and good American jobs. There are many good reasons to continue this policy, and we look forward to working with the new Congress in support of it.”