Dinneen: RFS shields the U.S. from a repeat of 1973 oil crisis

10/15/2013 | EthanolRFA.org/The E-Xchange blog

The 1973 oil crisis showed the importance of weaning the U.S. off foreign oil, something the Renewable Fuel Standard is doing, writes Bob Dinneen, president and CEO of the Renewable Fuels Association. Thanks to the RFS, the gasoline supply is now about 10% ethanol, displacing 462 million barrels of imported oil last year alone, Dinneen notes. The ethanol industry now churns out more than 13 billion gallons of the biofuel while supporting more than 380,000 jobs and adding more than $43.4 billion to the gross domestic product, Dinneen states.

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