The price Americans pay at the pump for fuel continues to climb, and energy production supply disruptions are expected to drive up oil prices to new highs.
Over the past 15 months, oil prices have increased by 130% to more than $120 per barrel.
American Farm Bureau Federation (AFBF) President Zippy Duvall sent a letter to U.S. President Joe Biden asking him to take the necessary steps to address high energy costs impacting all Americans.
“On behalf of our nearly six million Farm Bureau member families, I am writing to encourage you and your administration to work with partners in the public and private sectors and Congress to address high energy costs impacting all Americans,” Duvall wrote. “As Russia’s harmful actions in Ukraine continue and further sanctions are imposed against Russia, oil prices will likely continue to rise, creating even higher consumer costs and threatening U.S. energy and economic security.”
AFBF is asking the administration to remove barriers to domestic energy production, including increasing the production of biofuels, which have reduced America’s dependence on foreign crude oil and created jobs in rural America.
“Expanding the volume of American-made ethanol in the U.S. fuel supply can help alleviate some of these issues, as ethanol is currently priced 70-80 cents per gallon lower than gasoline,” Duvall wrote. “By displacing imported petroleum, increased biofuel use and domestic energy production will enhance U.S. security and independence while supporting America’s farmers and rural economies.”
Achieving domestic energy independence through comprehensive sources remains a priority issue for Farm Bureau. AFBF is committed to working with the administration and leaders in Congress to address the issue.