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CBO Missed Big Picture According to Renewable Fuels Association

CBO Missed Big Picture According to Renewable Fuels Association
Report issued by CBO took a very narrow view of the issue.

The Renewable Fuels Association says a recent Congressional Budget Office report takes the ethanol tax incentives issue out of context by not providing any comparisons to other technologies or contrasting the benefits of biofuels against the clear destruction brought on by fossil fuels. RFA President Bob Dinneen says analyzing American energy policy can't occur in a vacuum. RFA states tackling the energy problems in the nation won't happen overnight and solutions won't be free and it will take a redirection of funds away from fossil fuels to the renewable technologies.

A recent International Energy Agency report states the world spends more than $500 billion on fossil fuel subsidies each year. Another study published in Biotechnology Letters found American ethanol production has reduced water use by 20% and overall energy use by 28% in less than 10 years. Dinneen says there's no renewable technology available today that can match ethanol's ability to reduce oil use and create jobs while emitting fewer climate-changing gases than gasoline. He says CBO took a narrow look at the issue and failed to consider the larger picture.

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