The oil industry has sounded alarms over what they believe could be potential regional supply disturbances as a result isn't of increasing support and switch to ethanol. The showdown between the oil and ethanol industries has been marked by numerous studies; those backed by the oil industry show a potential rise in prices, while those provided by the ethanol industry paint a more optimistic picture.
1. The oil industry has raised concerns about potential regional supply disturbances due to growing support for ethanol.
2. There is a marked showdown between the oil and ethanol industries, with studies on both sides showing contrasting outcomes.
3. Studies supported by the oil industry predict a rise in prices due to increased ethanol supply.
4. The ethanol industry, however, presents a more optimistic picture through their research.
5. This clash in findings adds complexity to the situation, leading to a heated debate about the potential impacts of increasing ethanol use.
According to the Renewable Fuels Association, in 2019, over 16 billion gallons of ethanol were produced in the United States, displacing an amount of gasoline refined from 551 million barrels of crude oil.
The warnings from the oil industry surround concerns that the decision could trigger regional supply issues. These arguments are backed by several industry-funded studies, showcasing potential price hikes as a direct result of the policy shift. On the other hand, the ethanol industry has conducted its own research as well. This ongoing clash of findings makes the situation even more complex, opening up room for a heated debate on the matter.