National Corn Growers Association CEO Rick Tolman offered testimony in support of the national Renewable Fuels Standard during a hearing Tuesday before the House Subcommittee on Energy and Air Quality.
“This policy has been critical to the growth and economic development of rural America and has added value to our product which for so long has been priced below the cost of production,” Tolman told the subcommittee.
“Recently many critics have questioned the value and consequences of the Renewable Fuels Standard, they are quick to point to biofuels as the primary reason for global food increases,” said Tolman. “A look at the facts surrounding food prices simply doesn’t support that logic. The effects of $120 a barrel oil have far more reaching effects on consumer prices for food. Petroleum is used in virtually every step of the supply chain that begins with the farmer and ends at the consumer’s table. In fact, just 19 cents of every consumer dollar can be attributed to the actual cost of farm products.”
Listen to Tolman’s complete testimony here. [audio:http://www.zimmcomm.biz/ncga/hearing-tolman.mp3] Read his remarks here.