CONLEY COMMENTARY (WSAU) – I’m Chris Conley with today’s Conley Commentary.
It’s three-facts-Thursday.
Today, three facts about ethanol in your gasoline. Three facts that Joe Biden left out of his visit to Iowa last week, where he promised emergency orders that would lower gasoline prices.
Fact one — Increasing the ethanol mix from 10-percent to 15-percent will NOT save you money. The President says it could lower gas prices by about 10-cents a gallon. But he leaves out that ethanol is a less efficient fuel. So… you save 10-cents a gallon, but you’ll be fueling up more often, because you’ll get lower gas mileage.
Fact two – This will make OTHER prices go up… like food prices. As farmers produce more corn for ethanol, they’ll produce less corn for food. We’ll literally be burning a food source. We already know that wheat prices are going up because of the Russian invasion of Ukraine. Higher corn prices, almost all of which is produced domestically, will be self-inflicted inflation when you go grocery shopping.
Fact three – E-15 contributes to summer smog. That’s why the blend of ethanol changes to 10-percent in the summer. So President Biden is willing to sell out his green new deal allies for short-term gain, the illusion of lower gas prices. Which begs the question: If Joe Biden prioritizes gas prices over his environmental allies, why not jump to an energy policy that would actually work? Like more domestic oil production. Drill baby drill — or energy independence — needs to be our long term policy. Changing the gasoline ethanol mix is window dressing.
-Chris Conley
Comments