Iowa Renewable Fuels Association Says E10 Ethanol Saved Iowa Drivers $120 Million in 2007
Date Posted: January 4, 2008
Johnston, IAThe Iowa Renewable Fuels Association (IRFA) announced Jan. 3 that Iowa drivers saved $120 million dollars in 2007 by choosing E10 blends (10% ethanol, 90% gasoline).
Conversely, crude oil prices rising above $100 per barrel drives up the cost of nearly everything Iowans purchase.
"In 2007, ethanol blended gasoline helped keep $120 million in Iowa pocketsto spend on food, medicine, holiday gifts and even movie popcorn," said IRFA Executive Director Monte Shaw.
"Meanwhile, the rising cost of oilnow over $100 per barrelis driving up the cost of most consumer goods.
"Consider that oil is used in processing/manufacturing, packaging, and transportation.
"Almost everything is moved by a truck at some point in time.
"The economic benefits of moving away from petroleum have never been more obvious."
IRFA estimates that Iowans purchased approximately 1.2 billion gallons of E10 gasoline in 2007 at a discount of 10 cents per gallon compared to gasoline without ethanol equating to $120 million in savings.
Iowans can learn more about the positive economic impact of renewable fuels at the 2nd Annual Renewable Fuels Summit on January 31 in Des Moines.
The event is free, but registration is required.
For more information, call Monte Shaw at 515-252-6249.