Spencer, IA: (Jan. 16, 2014) – The Iowa Renewable Fuels Association (IRFA) wants Big Oil to stop misleading Iowans on the Renewable Fuels Association.
The Association’s Policy Director, Grant Menke, says the American Petroleum Institute recently launched a telemarketing campaign in Iowa that includes automated phone calls claiming the Renewable Fuels Standard (RFS) increases food prices.
Hogwash, he says. Menke says “…..studies have found that the largest driver of food prices is, in fact, the price of oil.”
An Iowa State University economics professor agrees. Bruce Babcock says that “….maintaining the federal RFS at intended levels for 2014 would have essentially no impact on food prices.”