Since the implementation of the RFS, renewable fuels have helped lower oil imports from 60 percent to 40 percent. The potential to reduce our nationís import reliance is even greater if we increase our supply of renewable fuels.
Ethanol displaced 462 million barrels of foreign oil in 2012. That alone helped reduce our dependence on foreign imports by 12 percent, while supporting some 400,000 domestic jobs, reducing prices at the pump by as much as $1.50 per gallon and contributing to the betterment of our economy and environment.
With the RFS and continued development of renewable fuels, new technologies and improved innovation, the United States can be truly energy independent.
The RFS already provides consumer savings of $8 billion annually. Furthermore, with the support of the RFS, we can continue to produce up to 36 billion gallons of homegrown fuel by 2022, giving consumers more choices at the pump.
Forty years ago we didnít have the choice of a better way. We couldnít break free, and we suffered. Today we have a choice. But only if we agree as a country to embrace renewable fuels and truly break free from our reliance on foreign oil.
Letís not let that choice go to waste.
Tom Buis is CEO of Growth Energy, a Washington trade group that represents producers and supporters of ethanol.