E85 and the Economy
As was the case in the early 1970s, the American
motorist has recently experienced a new run-up in the
price of motor gasoline. The oil shortages of 1973-74
were the result of an embargo; the oil charges of 1991
were the result of the Gulf War; while the price spike
of early 2000 was the result of planned supply
reductions which increased the price of crude oil from
$11 to $32 per barrel. This increased price of imported
oil has also been the primary cause of the U.S. balance
of trade deficit setting record after record, month
after month.
The United States imports over 53 percent of its
total energy and uses more energy than any other nation
in the world. The use of alternative fuels, including
propane, natural gas, methanol, electricity, and
ethanol, will all contribute to a reduction in the
amount of crude oil used in vehicle operations.
Not only does using E85 help reduce American
dependence on foreign oil, but because Ethanol is
produced from crops grown in the U.S., it can also help
stabilize commodity prices. And because E85 is a viable,
home-grown alternative to gasoline, E85 provides
competition, which is good for consumers.
In the near future, a wide range of waste products
will be used to produce ethanol, further developing our
national energy independence.Ethanol production is
estimated to increase net farm income more than $4.5
billion. It boosts employment by 200,000 jobs and
improves the balance of trade by over $2 billion. (NEVC)
E85 and You
Did you know that in some states you are
eligible for a Tax Credit up to the entire cost of an E85 conversion kit and
installation? It's true!