Posted: August 14, 2012
Agriculture Secretary Tom Vilsack demonstrated the Obama administration’s strong commitment to ethanol and the Renewable Fuel Standard (RFS) by spending over an hour at the American Coalition for Ethanol (ACE) conference on Friday morning, right after the release of the new crop forecast showing lowered corn production due to the drought.
“This is an industry that is worth supporting,” he told the crowd of more than 250 ethanol industry leaders. “Which is why the president is supporting the Renewable Fuel Standard, and it’s why I’m supporting the Renewable Fuel Standard.”
In light of the lowered crop forecast for corn due to the drought, Vilsack noted that the RFS has built-in flexibilities and the market is responding as it should. “The market responds, the market reacts, the market pays attention, and we’re already seeing that,” he said.
Vilsack stressed that passage of a new “food farm and jobs bill” is the best way to help farmers and ranchers through the current drought situation. “It’s going to be critically important to rural America that we get this job done,” he said.