Growth Energy Calls on Biofuels to Address Global Energy Crisis


Growth Energy CEO Emily Skor says the uncertainty of the situation in Ukraine underscores the need for more homegrown biofuels to reduce U.S. dependence on foreign oil and improve energy security. In an open letter Tuesday ahead of President Biden’s State of the Union Address, Skor highlighted the potential of biofuels to help lessen the impact of high oil and gas prices. This week, oil prices spiked to more than $100 a barrel, and gas prices are also increasing. In the letter, Skor says, “Increasing access to higher blends of ethanol through E15 year-round can help keep prices down at the pump.” Growth Energy says moving E15 nationwide would generate $12.2 billion in savings for U.S. consumers at the pump each year, and bolster the domestic market supply, driving prices downward. Skor says homegrown and low-carbon solutions like biofuels can shield American drivers from the continued volatility in the OPEC-controlled, global oil market.