Gassed Up Turkeys
CONTENTS:
1.) Editor’s Note: What is Fuel for Thought?
2.) Inaugural Edition: Gassed-up Turkeys
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1.) Editor’s Note: What is Fuel for Thought?
In the heated debate about U.S. energy policy, important facts about renewable fuels like ethanol too often have been brushed aside or held in front of funhouse mirrors by critics. Fuel for Thought will bring those facts back into proper focus. It is a free email service of the Renewable Fuels Now Coalition (www.renewablefuelsnow.org).
Fuel for Thought will be published every Tuesday and Thursday (except holidays), with periodic special editions on other days as news events warrant. It will always be as short and sweet as the inaugural edition is today. (See below.)
Please forward Fuel for Thought to friends or colleagues you think might be interested. Anyone may subscribe or unsubscribe to the service at any time. Just follow the instructions at the bottom of the email.
2.) Inaugural Edition: Gassed-up Turkeys
This Thanksgiving, Americans will spend $520 million more to drive to Grandma’s house and back than they did last year thanks to rising gas prices. What’s more, Grandma will have to spend 11 percent more to put Thanksgiving dinner on the table this year than she did last year. That’s thanks to rising transportation and energy costs that are being passed on to consumers in their food bills.
The root cause of all this is the soaring price of oil, which is flirting with $100 a barrel. Americans will feel the impact not just at the gas pump, but also on the Friday after Thanksgiving - the traditional kick-off to the holiday shopping season. The extra $520 million we have to spend on fuel is $520 million we won’t be spending on presents.
The one bit of bright news is that in places where gasoline marketers are blending ethanol, drivers are
saving money. Ethanol is currently being blended into about half of the country’s motor fuel supply. The current spot market price of regular unleaded gasoline is about $2.45 per gallon, while the equivalent price of ethanol is $1.90 per gallon.
That’s just one more reason why America should continue to move away from total oil dependence
through the use of renewable fuels like ethanol.
Sources:
John M. Urbanchuk, “Impact of Higher Oil Prices on Thanksgiving Dinner,” LECG, LLC, November 19, 2007.
“Thanksgiving Dinner Cost Inches Higher This Year,” American Farm Bureau, November 15, 2007.
