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Exxon Mobil Corporation Message Board

  • bluecheese4u bluecheese4u Aug 2, 2013 8:11 PM Flag

    For lower costs at the pump, RFS is the best

    For lower costs at the pump, RFS is the best

    Todd Foley - 08/02/13 02:00 PM ET

    As we have witnessed over the past decade, the American energy landscape continues to transform. Not so long ago, energy scarcity was a significant concern, especially for transportation fuel as petroleum supply decreased. As a result, in 2005 our nation wisely chose to diversify our fuel supply with strong bipartisan leadership from American policymakers. At that time, under George W. Bush, we created one of the most successful energy policies ever enacted– the Renewable Fuel Standard (RFS).

    Even though in recent years the supply of domestic petroleum has increased, the volatile price of gasoline is out of our control and seems to climb every day. Right now gas prices are too high, especially for hard-working American families and small businesses; and it’s not getting better even as we drill for more domestic oil. Oil is a globally traded commodity and will remain to be priced on the global market, forever. So even as petroleum supplies increases, the RFS is still a much needed policy to alleviate Americans from high fuel costs.

    Every day in most parts of this country, Americans have no choice but to buy petroleum-based gasoline. But due in large part to the RFS, the situation has the possibility to get a lot better for all Americans. Currently, 10 percent of our fuel supply comes from ethanol, which saves consumers money at the pump. Right now, national gas prices are at $3.70 a gallon and rising. If we didn’t have the RFS and 10 percent of our fuel didn’t come from ethanol, a gallon of gas would instead hover around $4.00 a gallon. Also, because of increased ethanol production, many drivers in the Midwest are using blends of fuel like E30 – an American- ethanol blended fuel – for about $3.50 a gallon! That, combined with the increased deployment of flex fuel vehicles (FFVs), has provided some much-needed relief at the pump.

    Unlike most government policies, the goal of t

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