|
Russia buying US ethanol industry concerns SDFU
HURON—Russian owned Itera LLC recently invested
$265 million in a Clearwater, Pennsylvania ethanol plant, currently under
construction. Along with the Clearwater plant, Russian-based companies are
purchasing US ag-related manufacturing
businesses. It is an alarming trend that the
world’s second largest oil exporter, is becoming
a heavy hand in American agriculture.
South Dakota Farmers Union President
Doug Sombke forecasted this trend
years back, and as a result, began exclusively
using higher blends of ethanol and bio-diesel on
his farm. “Our nation imports two thirds of our
oil needs and it frustrates me to see my dollars
for gasoline/diesel largely benefiting
individuals in
Russia and
Saudi Arabia.”
Sombke also stated he is surprised to see
South Dakota fuel dollars showing up
as Russian investments in our US ethanol industry.
Currently, Russia
has the world’s largest natural gas reserve and
ranks number eight in oil reserves. But with new
exploration in artic areas they now claim as
their sovereign territory, their proven oil
reserves could increase dramatically. The
United States
has three percent of the world’s oil reserves
and uses thirty percent of the world’s oil
production.
There is hope of keeping more of our fuel
dollars in
South Dakota if our
ethanol plants and corn check-off revenues more
aggressively support independents and
cooperatives who are trying to get blender pumps
in place.
South Dakota Farmer’s Union E85 action team
chairman, Orrie Swayze, said, “With blender
pumps that produce higher blends of ethanol
available throughout the state, South Dakotans
could easily cut their gasoline consumption in
half and more importantly, keep money in
the
South Dakota economy.”
The alternative is trading an ever increasing
amount of our fuel dollars for Russian/Saudi
gasoline, losing money every time someone fills
their vehicle.
For more information, please contact the South
Dakota Farmers Union at 605-352-6761.
-30-
|
