Domestically produced ethanol is helping to keep gas prices from going even higher.  Here’s what experts are saying:

1. The U.S. Departments of Agriculture and Energy note that gas prices would likely be 20-35 cents higher per gallon if ethanol were not available.
2. Merrill Lynch analysts believe oil and gas prices would be 15% higher if ethanol producers weren’t expanding their output, which would mean $21/barrel more for oil and 61 cents more per gallon for gas.
3. Iowa State University found that between 1995 and 2007, Americans in all regions of the country spent less on gas – between 29 and 40 cents a gallon – than they would have if ethanol had not been available.

Using the low and high estimates of ethanol’s savings – 20 cents to 61 cents per gallon – ethanol is saving American households between $210 and $642/year.

By growing the production and consumption of ethanol in the U.S., and taking basic conservation measures, the nation can fuel its own energy needs for nearly six months out of the year. 

• America currently produces enough oil (49 billion gallons) and enough ethanol (9 billion gallons) to provide 149 days of energy independence – or up to May 29 each year.
•   Expanding ethanol production to 14 billion gallons, and taking basic fuel conservation measures that would reduce each driver’s gas consumption by 21 gallons a year, would result in a true “Energy Independence Day” – or the U.S. being able to fuel its own energy needs through July 4 each year.