Study Says Ethanol Saves you Green

Intro: Missouri Corn Merchandising Council paid $12,000 for a study saying Ethanol will save Missourians nearly 10 cents a gallon at the pump.

Alex Lundy has more from the state capitol.

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Independent consulting firm LECG found that consumers saved almost 8 cents in 2007 from using ethanol blend fuel. The study says a law requiring gasoline distributors to use the E10 blend will save Missourians more than $70 this year.

John Urbanchuck (URbanchuck), who ran the study, said ethanol production will stimulate the economy.

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Description: Those are manufacturing sector jobs that are created here. They're American jobs, Missouri jobs, that produce ethanol made from corn grown by Missouri farmers. That money stays in these communities.

Opponents say a renewable fuel mandate will hurt the free market economy and cause food prices to skyrocket.

Reporting from Jefferson City, I'm Alex Lundy.

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Intro: A study shows that a law forcing Missourians to use 10-percent ethanol fuel can save you almost 10 cents at the pump but opponents say consumers will be spending their savings on food.

Alex Lundy has more from the capitol.

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The Missouri Corn Merchandising Council paid independent consulting firm LECG $12,000 for a study that shows a renewable fuel mandate taking effect this year will save consumers more than $70.

Republican Senator Luann Ridgeway says such a law will actually have a negative effect on the state's economy.

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Description: we have created an artificial market for ethanol that otherwise may not have existed. as a result, the price of corn, and if we pass the bio diesel mandate, the price of soybeans, will escalate very rapidly, far beyond what it would have in the marketplace.

But supporters say ethanol production has little effect on food prices because there could be many complex reasons for rising costs.

Reporting from Jefferson City, I'm Alex Lundy.

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Intro: A study funded by the Missouri Corn Merchandising Council garnered the support of a major gasoline distributor in the state.

Alex Lundy has more from the capitol.

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A study found that a blend of ethanol and gasoline will save Missouri consumers almost 10 cents a gallon. A law that took effect this year requires all gasoline distributors in the state to use the E10 blend.

MFA Oil President Jerry Taylor said he would support using ethanol without a state law because it keeps him competitive among other companies.

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Description: Today all distributors are blending and will continue to blend, in my judgment, with or without a renewable fuel standard simply due to the economics. A distributor, which MFA Oil is, cannot compete if their cost is seven cents a gallon higher than a competitor as it would be today.

But in the legislature, critics say ethanol production drives up the cost of food and could put small family farmers out of business.

Reporting from Jefferson City, I'm Alex Lundy.