Oil Spills & Contaminated Gas – Ethanol Takes On API

RFA_GrowthEnergy_Dear_Oil_AdA recent edition of the New York Times and Politico have published what the Renewable Fuels Association (RFA) and Growth Energy are calling “good-humored, but factual takedown of Big Oil’s false, hypocritical attacks against clean, renewable ethanol”.

In response to American Petroleum Institute’s (API) current national anti-biofuel campaign, the two ethanol associations have published an ad that is an open letter to Jack Gerard, API president in Politico and all DC editions of the New York Times.

Dinneen and Buis write, “Despite the millions of dollars your industry has spent on bogus TV ads, there hasn’t been a single reported case of engine damage from ethanol blended fuels like E15. But last week, Exxon admitted selling customers in Louisiana more than 5 million gallons of oil-based gasoline that was so bad that it’s been stopping cars dead in their tracks. In fact, one auto shop reported 40 or 50 customers who had trouble starting their engines as a result of Exxon’s contaminated gas. That’s 40 or 50 more cases of engine problems than have been reported in the entire country from E15, and that’s just one shop in Baton Rouge!”

With summer around the corner consumers are getting their boats ready for the waters and API has taken the opportunity to run ads about boats not being able to use E15 or other higher blends of ethanol. However, what API does not acknowledge is that the Environmental Protection Agency (EPA) did not approve E15 for small engines or boats.

Going directly at the current API boat ads, the open letter continues, “While your ads are misleading people about the impact of ethanol on marine engines, boats in Houston are in dry dock because of your oil spill! In fact, that one company has been fined for 77 different oil spills since 2008, which means they have averaged more than one oil spill per month for the last six years. That’s a lot of boaters impacted by oil spills, Jack.”

The open letter is summed up in one simple closing thought, “You see, Jack, the real environmental peril is oil, not renewable fuels like ethanol.”

API Runs Additional Biofuel Attack Ads

The American Petroleum Institute (API) will be running additional advertisements criticizing biofuels and the ethanol industry is once again fighting back.

“Once again, API has decided to perpetuate misinformation to protect their bottom line. They will do anything to protect their record profits and market share, even at the expense of consumer savings and a cleaner environment,” said Tom Buis, CEO of Growth Energy.

oil spill lake michigan“This recent series of ads are nothing more than fear mongering and misleading information. Time and again, the facts show that there is no substantial correlation between ethanol production and food prices,” continued Buis. “If Big Oil wants to point the finger at those who are driving up food prices, they should look no further than a mirror. In fact, a 2013 World Bank study has proven that crude oil prices are responsible for at least 50 percent of the increase in global food prices since 2004.”

Buis notes that marine and small engines are warrantied to use up to 10 percent ethanol and are not legally allowed to use E15 or other higher ethanol blends. He said the campaign has been designed to scare consumers, E15 is voluntary for use, and any suggestion that consumers are required to use E15 in small engines is completely misleading and false.

While the ads lay blame on the biofuels industry for additional environmental damage, Buis said that Big Oil a long history of ignoring environmental damage they are directly responsible for. “The sheer nerve to accuse biofuels of causing environmental harm on the 25th anniversary of the massive Exxon-Valdez spill, and the present-day oil slick off the coast of Texas, as well as another spill in Lake Michigan just yesterday, shows that Big Oil has a complete disconnect with reality and only cares about lining their pockets at the expense of the American consumer and our environment,” concluded Buis.

Stop Protecting Big Oil’s Bottom Line

A new TV advertising campaign is being launched in Washington, D.C. this Sunday by Americans United for Change calling for the Environmental Protection Agency (EPA) to stop supporting Big Oil’s bottom line. The EPA is currently reviewing comments of their 2014 proposed rule for the Renewable Fuel Standard (RFS). The goal of the TV ad is to underscore the consequences for rural jobs and all American consumers if they ultimately give Big Oil what they want: crippling their cheaper, cleaner renewable fuels competition.

‘Bottom Line’ follows two previous Americans United TV ads in support of the RFS, “Simple Choice” and ‘Why Mess With Success?”, and its digital ad campaign ‘Big Oil Is the Real Winner’, fighting back against the oil industry’s lies.

“Big Oil needs another giveaway from Washington like our coastal environment and economies need another BP deep-water spill,” said Caren Benjamin, executive director of Americans United for Change. “The industry already enjoys absurd loopholes that allowed the biggest companies among them to pay no taxes or even negative taxes in recent years. And while the ethanol industry voluntarily gave up their tax credit at the end of 2011, Big Oil runs attack ads against lawmakers who dare to suggest they don’t need $4 billion a year in taxpayer subsidies at a time when they’re posting $100 billion in profit. And how does Big Oil pay back the taxpayers for all their generosity? By shaking them down at the pump and polluting their ground water.”

Benjamin noted that Big oil gets whatever they ask for from Washington and said they are now asking the EPA to help put out of business their 70 cent cheaper and cleaner renewable fuels competition. “It’s time to draw the line not just because gutting the RFS is another giveaway to Big Oil, but because it’d be a huge takeaway from our rural economies, our national security, environment, and innovation towards cleaner renewable fuels of tomorrow.”

With a call to action to stop messing with the RFS Benjamin concludes that it doesn’t make sense to “mess with the success of the RFS.”

An Energy Enthusiast Version of March Madness

March Madness is upon us. For those not living in the United States, it’s the two weeks where college men and women’s basketball teams battle it out on the court until the last team is standing and crowned champion. Now that the NCAA teams have been announced and the brackets determined, people are filling out their official tournament forms with hopes of also being the last one standing (this assures bragging rights for one year).

This year, the Americans United for Change has released its own version of March Madness: the 1st Annual Environment Protection Agency (EPA) Renewable Fuel Standard Elimination Tournament. Jeremy Funk, communications director, notes that there is only one possible upset in this tournament and its a long shot and that is the renewable energy industry coming out the victor. He says “everyone knows the fix is in at this tournament if the EPA ejects the RFS and guarantees victory for 1st seed team Big Oil over the 16th seed team, The American Consumers”.

tumblr_n2n687cBjP1ts83mmo1_1280The EPA is currently reviewing more than 100,000 comments submitted in response to its 2014 proposed Renewable Fuel Standard (RFS) – an energy policy designed to reduce the use of imported oil while also reducing greenhouse gas emissions.

“Big Oil has been working the refs in Washington for decades, complaining they need billions of dollars in taxpayer subsidies, even when they’ve got $100 billion in profits on the scoreboard,” added Funk. “Now the oil industry has a full court press on Washington to once again rewrite the rules in their favor by ejecting the cleaner, cheaper renewable fuels competition from the game. Without a strong Renewable Fuel Standard promoting healthy competition, Big Oil would be free to give consumers the Bobby Knight treatment at the pump.”

He says he is confident that when the EPA’s referees review this call, they’ll see the RFS has been an incredible Cinderella Story for rural communities when it comes to creating jobs, income and opportunity.

Funk concluded, “They’ll see the RFS has meant our troops have has been playing stronger D by reducing our dependence on oil from unstable regions overseas. They’d see the RFS has been a slam dunk for innovations in cleaner burning, next generation renewable fuels to combat climate change. We’re confident in the end, the EPA will reverse this terrible call and make Big Oil play fair for a change.”

Rail Problems Impacting Ethanol Supplies

snow-trainOne impact of the long, cold winter across the nation has been weather-related rail disruptions that are taking a toll on ethanol supplies and production.

The record winter weather patterns that have caused repeated snowstorms have resulted in stalled trains, frozen controls and increased demand for rail cars. All that has made it difficult to move ethanol to the Northeast.

The Energy Information Administration reported last week that stocks of ethanol stood at 15.9, down 2.4% from the previous week, the lowest level of the year so far. Stocks are well below the 20-day supply mark for the second week in a row and on the East Coast stocks of ethanol fell to their lowest level on record last week, at 4.6 million barrels compared to 6.4 million this time last year.

“Naturally, limited regional mobility leads to limited regional supply which can impact prices, but market observers believe this is a temporary situation that will soon be corrected,” said Renewable Fuels Association Executive Vice President Christina Martin.

The backlog in transportation is causing ethanol plants to slow production somewhat. According to EIA data, ethanol production averaged 869,000 barrels per day (36.50 million gallons), down 25,000 barrels from the previous week and the lowest in eight weeks.

The backups have also been delaying grain shipments from last year’s record crop but rail company officials, including BNSF and CSX, say they are working hard to get everything back to normal.

New Budget Would Roll Back Oil Subsidies

2015-budgetThe recently proposed Obama administration Fiscal Year 2015 Budget includes $4 billion a year in cuts to oil industry subsidies, notes Americans United for Change (AUFC), which calls that “a big win for taxpayers and consumers.”

Under the Department of Energy section, the budget calls for elimination of “Unnecessary Fossil Fuel Subsidies” stating that as “the Nation continues to pursue clean energy technologies that will support future economic growth, it should not devote scarce resources to subsidizing the use of fossil fuels produced by some of the largest, most profitable companies in the world.” The proposed budget would repeal “over $4 billion per year in tax subsidies to oil, gas, and other fossil fuel producers.”

americans-change“We are elated that the President has renewed his commitment to doing away with billions of dollars in pointless subsidies for big oil that shortchange investment in cleaner burning, cheaper renewable fuels of the future,” says AUFC executive director Caren Benjamin, adding however that the EPA proposal to cut the Renewable Fuel Standard (RFS) at the same time is inconsistent. “It’s a proposal that runs totally counter to the President’s strategy to address climate change by supporting clean energy — because a weak RFS means less incentive for innovation in cleaner burning, next generation renewable fuels and guarantees a greater use of dirty fossil fuels.”

AUFC also points out that there seems to be some bipartisan consensus building in Congress against special tax treatment for the oil industry. The draft tax reform proposal circulated by Republican House Ways and Means Committee Chairman Dave Camp (R-MI), for example, would eliminate some of the accounting tactics that allow oil companies to report lower net profits and pay less taxes.

AUFC encourages House Budget Committee Chairman Paul Ryan to follow that lead and hold a hearing on “why an industry that made $100 billion in profits last year can’t do without billions of dollars in subsidies every year courtesy of the taxpayers.”

The Sorry State of Corporate Taxes

Citizens for Tax Justice has released a new five-year, comprehensive study of 288 profitable Fortune 500 companies finds that 26 paid no federal corporate income tax over the five-year period; 111 paid no federal corporate income tax in at least one of the last five years, and one-third paid a U.S. tax rate less than 10 percent over the same period, Citizens for Tax Justice and the Institute on Taxation and Economic Policy said today. “The Sorry State of Corporate Taxes: What Fortune 500 The Sorry State of Corporate TaxesFirms Pay (or Don’t Pay) in the USA and What They Pay Abroad —(2008–2012),” found that most multinational corporations in the study paid lower U.S. taxes on their domestic profits than they paid to foreign governments on their foreign profits.

Big Oil companies were part of the this list and the report found that several oil companies paid no taxes or negative taxes in at least one of the years between 2008 and 2012: Murphy Oil, Exxon Mobil, Occidental Petroleum, Devon Energy and HollyFrontier. The report found that Exxon Mobil actually got money out of the government, taking in more than $25 billion in one of those years while actually getting $954 million out of the taxpayers for a tax rate of negative 38 percent. Overall, the report finds, the oil, gas and pipelines industry paid taxes at an average rate of 14.4 percent in the five years measured making profits of more than $223 billion and paying taxes of only $32 million. During that same time period oil, gas and pipeline companies received $45 billion in subsidies.

“The incredible extent to which Big Oil takes advantage of the U.S. taxpayers should give serious pause to those considering whether to give the industry another huge giveaway they don’t need by gutting the Renewable Fuel Standard,” said Caren Benjamin, Executive Director, Americans United for Change, an organization that has called for more support of the renewable energy industry in continued support of the Renewable Fuel Standard (RFS).

“The ethanol industry voluntarily gave up their tax credit at the end of 2011, while Big Oil has fought tooth and nail to hold on to its billions of dollars in pointless and wasteful subsidies,” continued Benjamin. “Big Oil lobbyists claim these subsidies somehow benefit to the economy. But it’s clear they about as committed to boosting the American economy with these subsidies as Bernie Madoff was to building his clients’ retirement accounts. Bottom line: Anything they can do to suck more dollars in to their own pockets – from the government, from the taxpayers, at the pump, whatever it takes, they will do.”

Marathon Exec Keynotes Ethanol Conference

nec14-marathonIt is often said that the goal of a keynote speaker is to set the tone for a conference but the goal of the address given by Dave Whikehart of Marathon Petroleum Company at the National Ethanol Conference was more to allow the ethanol industry to hear the perspective of a fuel refinery partner.

Whikehart tried to explain why the petroleum industry has problems with the Renewable Fuel Standard (RFS). “Marathon petroleum supports corn ethanol because it is a transportation fuel and we are in the transportation fuel business,” he stressed, noting that they have a history of investing in and marketing corn ethanol blends. “What we do not support is government intervention in our markets and mandates that attempt to force products on our customers.”

As director of Product Supply and Optimization for Marathon, Whikehart made quite a few comments that the ethanol industry disputes when it comes to refiners being able to comply with the RFS going forward. He stated that demand for E85 is “non-existant” and that “E85 sales have limited growth potential.” In addition, Whikehart called introduction of E15 a “non-starter” due primarily to liability issues.

The ethanol industry disagrees and the rest of the NEC program this week is dedicated to proving that the RFS is working and that refiners and retailers can do what is needed to meet the goals of the program.

Listen to or download Whikehart’s complete remarks here: NEC Address by Dave Whikehart, Marathon Petroleum

2014 National Ethanol Conference Photo Album

NEC Coverage sponsored by Patriot Renewable Fuels LLC

Keep Our Tax Breaks: We Only Make $93B in Profit

Dear Congress,

Please keep our millions of dollars in tax breaks in place. We only make $93 billion in collective profit per year. This is not enough money to operate our businesses and overcharge our customers. We’re sure you will make the right decision.

Yours truly,

Big Oil

This is what a letter to Congress might look like from Big Oil who according to a report from the Center for American Progress, made a combined profit of $93 billion in 2013. The total is for five big oil companies: BP, Chevron, ConocoPhillips, Exxon Mobil and Shell. Despite this ridiculous amount of revenue (these companies made $177,000 per minute), they are fighting to keep their tax breaks in addition to lobbying to lift the crude oil export ban.

The five Big Oil Brothers actually increased total production in 2013 most due to BP and ConocoPhillips in essence single handedly doubling production. Although production went up, profits went down because it is becoming more expensive to extract oil. It is this change that is causing the oil industry to argue they need their tax breaks to continue.

What is staggering is that the $93 billion profit is down nearly 27 percent from 2012. In addition to higher cost of production, the average price of gasoline in 2012 was 16 cents less per gallon than the previous year.

It would not be surprising, write Daniel Weiss and Miranda Peterson, both with Center for American Progress, “if the big five oil companies use their 2013 decline in profits as another excuse to pressure Congress to retain their $2.4 billion-per-year tax breaks. The largest of these special provisions, they write, allows these companies to qualify for the “limitation on section 199 deduction attributable to oil, natural gas, or primary products, which will cost taxpayers $14.4 billion over 10 years. This according to the Congressional Joint Committee on Taxation. This particular tax break was enacted in 2004 and was designed to encourage manufacturing to remain in the United States rather than move overseas. It was not meant to apply to oil and natural gas production since the oil and gas fields cannot be moved to another nation. Continue reading

New Study: Corn Ethanol Reduces GHG Emissions

According to a new study, that compared the greenhouse gas emission reductions of corn ethanol and those of crude oil production and fracking, corn ethanol’s carbon intensity is declining while the carbon intensity of petroleum is increasing. The study was conducted by Life Cycle Associates and found that the carbon impacts associated with Canadian_tar_sandscrude oil production continue to worsen as more marginal sources of fuel are introduced into the fuel supply.

According to the report, “As the average carbon intensity of petroleum is gradually increasing, the carbon intensity of corn ethanol is declining. Corn ethanol producers are motivated by economics to reduce the energy inputs and improve product yields.”

The study, commissioned by the Renewable Fuels Association (RFA), found that average corn ethanol reduced greenhouse gas (GHG) emissions by 32 percent compared to average petroleum in 2012. This estimate includes prospective emissions from indirect land use change (ILUC) for corn ethanol. When compared to marginal petroleum sources like tight oil from fracking and oil sands, average corn ethanol reduces GHG emissions by 37-40 percent.

As more unconventional crude oil sources enter the U.S. oil supply, and as corn ethanol production processes become even more efficient, the carbon impacts of ethanol and crude oil will continue to diverge. The study predicts that by 2022, average corn ethanol reduces GHG emissions by 43-60 percent compared to petroleum.

“The majority of unconventional fuel sources emit significantly more GHG emissions than both biofuels and conventional fossil fuel sources,” according to the study. “The biggest future impacts on the U.S. oil slate are expected to come from oil sands and fracking production.” In the absence of biofuels, “…significant quantities of marginal oil would be fed into U.S. refineries, generating corresponding emissions penalties that would be further aggravated in the absence of renewable fuel alternatives.”

The study also reveals several fundamental flaws with the GHG analysis conducted by the Environmental Protection Agency (EPA) for the expanded Renewable Fuel Standard (RFS2) regulations. Continue reading

Radio Disney Dumps Dirty Energy Road Show

Climate Parents has announced that after more than 100,000 people signed petitions the organization began, Radio Disney announced it will withdraw from a controversial program that promotes fossil fuel extraction to school-age children in Ohio. Climate Parents is a national organization comprised of parents taking action on climate change.

“We are pleased that Disney responded to our request to stop promoting oil and gas extraction to kids in Ohio,” said Lisa Hoyos, Founder and Director of Climate Parents. OOGEEP_FB1However, Disney engages schools all over the country on energy education, and we remain deeply concerned that the company has no policy in place prevent this from happening again.”

Climate Parents worked closely with their partners at CREDO Action, who helped gather more than 80,000 petition signatures on Credo Mobilize.com. In addition to working with CREDO Mobilize, Climate Parents also hosted petitions on MoveOn.org and Change.org to gather more than 100,000 signatures and generate hundreds of social media posts.

“There’s no place for fracking in the Magic Kingdom,” said said Zack Malitz, CREDO’s Campaign Manager. “Disney has done the right thing by refusing to use its brand to promote dirty energy, and it needs to go further say it will never again partner with oil and gas industry groups to produce Disney-themed dirty energy propaganda for children.”

The program Climate Parents was opposed to was called “Rocking in Ohio,” a road show the Ohio Oil and Gas Association created in partnership with Radio Disney. The program engaged school kids in a “game show” type activities that celebrated oil and gas extraction.

“The response has been overwhelming,” said Hoyos. “People from all over the country have spoken out against Radio Disney’s promotion of dirty energy in Ohio. But until Disney takes that commitment nationwide, we will continue to mobilize parents and families to ensure that Disney only promotes kid-safe, climate-safe energy.”

API’s State of American Energy Same Old, Same Old

Yesterday American Petroleum Institute (API) President and CEO Jack Gerard outlined “The State of American Energy” and the role the oil and natural gas industry in economic growth, job creation and energy security.

api_logoDuring his speech, Gerard stressed the role that oil and natural gas would play in the country’s energy policy but he cautioned that the country must “get our nation’s energy policy right today”.

“If we are to continue our nation’s current positive energy production trends, we must
implement energy policies based on current reality and our potential as an energy leader, not the outdated political ideology of the professional environmental fringe or
political dilettantes,” said Gerard. “American energy policy should reflect the reality that someone will benefit from helping to meet the world’s ever growing need for energy.”

“Because make no mistake; energy, specifically oil and natural gas, will remain foundational to our way of life. Broadly, demand for energy worldwide will continue its upward trajectory. For the foreseeable future, we will need more energy from all sources: wind, solar, oil, natural gas, nuclear power, coal and biofuels to meet the world’s ever growing need for energy,” Gerard added.

According to the U.S. Energy Information Administration, 25 years from now, oil and natural gas will provide nearly 60 percent of the country’s energy and more than 90 percent of the country’s transportation fuels.

In reaction to Gerard’s speech, Growth Energy’s CEO Tom Buis responded, “API’s ‘State of American Energy’ speech, brought to you by Big Oil, is nothing new. While oil companies talk about the future of energy in this country, they seem fixated on a finite resource and fail to acknowledge that renewable fuels play a critical role in meeting the nation’s growing energy needs of the future.” Continue reading

RINS Had No Impact on 2013 Gas Prices

gaspricesDespite all the “RINsanity” caused in early 2013 when gas prices spiked and the oil industry pointed fingers at volatile Renewable Identification Numbers, a report out today exonerates RINS from blame.

The detailed statistical analysis
conducted by Informa Economics and released today by the Renewable Fuels Association (RFA) finds that retail gasoline prices were “unaffected by the erratic surge in prices for Renewable Identification Number (RIN) credits in 2013.”

“Changes in prices of renewable identification numbers (RINs) did not cause changes in retail gasoline prices in 2013,” according to Informa’s report. “Retail gasoline prices were driven primarily by movements in crude oil prices and secondarily by changes in the spread between domestic and international crude oil prices and the level of vehicle miles driven in the U.S., which varies seasonally.”

Overall, gas prices in 2013 average less than the previous year, at $3.49 per gallon according to AAA. That is the lowest price since 2010. The highest one-day national average was $3.79 per gallon on February 27.

RFA president and CEO Bob Dinneen, Informa Senior VP Scott Richman and analyst Crystal Carpenter, and Geoff Cooper, RFA’s Vice President of Research and Analysis, held a press conference today to discuss the analysis. RINS report media call

Fossil Fuel Subsidies Reach $544B

According to the World Energy Outlook fossil fuel consumption subsidies have reached $544 billion in 2012, up from $523 billion in 2011. This news has caused the Global Renewable Fuels Alliance (GRFA) to criticize leaders of the most developed nations for failing to reduce fossil fuel subsidies despite their commitment to eliminate them four years ago.

This weekend marked the end of this year’s United Climate Change Conference and Bliss Baker, GRFA spokesperson said “Another year has passed without any progress being made in eliminating these wasteful crude oil subsidies. These market distorting subsidies hurt developing economies and slow the development of alternative fuels, like biofuels.”

Screen Shot 2013-12-09 at 11.22.41 AMIn 2009, at the Pittsburgh G20 Summit, the world’s most developed countries committed to eliminating unnecessary fossil fuel subsidies. Back in 2009, fossil fuel subsidies had reached $300 billion, 45 percent less than where they are today.

This year’s figure of $544 billion in fossil fuel consumption subsidies shows that efforts to reduce them are not working says Baker. Even more egregious is the fact that this number does not include the production subsidies governments provide directly to crude oil companies, which is widely accepted to be in excess of $100 billion he adds.

“The GRFA finds it worrying that although we seem to be very aware of climate change, the leaders of the world’s most important nations have not slowed the subsidization of the consumption and production of crude oil in four years,” said Baker.

This year’s United Nations Climate Change Conference featured a “Transport Day” and “Fossil-Fuel Subsidies and Climate Change” side events. The focus of these events was land transport and fossil fuel subsidy reform. Land transport, according to the International Energy Agency (EIA), is the fastest growing source of carbon dioxide emissions, contributing 13 percent of global emissions. Eliminating fossil fuel subsidies could further reduce global emissions by a minimum of 10 percent.

“It is disturbing that no progress on the sources of over 20% of the world’s carbon emissions was made and that land transport and fossil fuels subsidies were reduced to side events at the premier conference established to determine the best ways of combating climate change,” added Baker.

He concluded, “This year’s Warsaw Climate Conference is another lost opportunity for leaders of the most developed nations to show some leadership and get serious about cutting subsidies to crude oil and increase biofuels share of the global future energy mix.”

Book Review – Ruminations on the Distortion of Oil

I recently finished reading the book, “Ruminations on the Distortion of Oil Prices & Crony Capitalism,” by Raymond J. Learsy. The book was a historical review of his writings dealing with Big Oil and why oil prices are so high. In other words, “an overview of…our enslavement to oil and the money inextricably tied to it.”

Ruminations-Book-CoverA former commodity trader, Learsy noted that oil prices are gamed and have little to do with market discipline of supply and demand. He explains in the book how commodity markets work (you really have no idea until you read the book and listen to his interview). In fact, Learsy writes that “This administration [Obama administration] has a profound lack of understanding of how oil markets function.” He also says there is no real oversight by our government over the oil industry or over the workings of the OPEC Cartel (Organization of the Petroleum Exporting Countries).

He notes that no global industry is wealthier than the oil industry and the countries that produce the oil. He explains that the oil industry and traders play the commodity market in a way that maximizes the price for oil. He said that a barrel of oil should not be hovering around $100. Rather, according to the CEO of Exxon/Mobil Rex Tillerson who stated during Congressional testimony in 2011, speculation was adding $30 to $40 to the price of each barrel.

“Six hundred million dollars a day is going from consumers to oil interests each day. This is money that is being stolen out of consumers’ pockets everyday,” said Learsy.

He also points out that in President Obama’s diversified energy strategy, natural gas is not included. Today he explains the U.S. has an abundance of affordable natural gas that is being burned off because there are not enough pipelines to transport it.

This book specifically focuses and on uncovering who is responsible for soaring gas prices. If you want to know as well, then read this book. It is available on Amazon.

Listen to my in-depth interview with Raymond Learsy. BTW – You will enjoy what Learsy would do if he were president for a day to fix the oil price situation. Interview with Author Raymond Learsy

Win a copy of Ruminations on the Distortions of Oil Prices & Crony Capitalism. Email me with the subject line “Ruminations Book Giveaway” by Tuesday, December 10, 2013. The winner will be announced in the DF newsletter on December 11th.