(KMAland) – One of Nebraska’s largest ethanol producers says more biofuel could go a long way in easing gas pump pain. Chuck Woodside is CEO of KAAPA Ethanol Holdings. He says increasing the amount of ethanol in the country’s fuels would have an immediate benefit.
“If we could increase blend ratios from 10 to 15 or even higher immediately, we could have an impact on the price of gasoline at the pump tomorrow. That’s the job our association does with the administration today is to make sure they understand that, because we can have a direct impact right away.
President Joe Biden has announced a US ban on oil imports from Russia. Woodside says that if ethanol production was at full capacity, the United States would not miss Russian imports.
“I think the other thing that’s interesting, and it’s a stat I had heard yesterday, is that the United States imports 200,000 barrels of oil a day from Russia. You know what? That’s about the same amount of unused ethanol capacity in the United States. And so, if all the ethanol plants were operating in the United States, we could replace importing oil from Russia into the United States. And I think those are the kinds of things that allow us to have a direct and immediate impact on the price of gasoline.