Moving to E15 is estimated to create 136,000 jobs here in the U.S., reduce our dependence on foreign oil by an additional seven billion gallons and reduce greenhouse gas emissions equivalent to removing 1.35 million cars from the road.
Despite these benefits, Chevron indicated in a recent email to retailers that the company has no plans to sell Chevron or Texaco-branded E15. ExxonMobil followed suit with a blog post similarly denouncing the decision, despite the sound body of testing by academia, private industry and government entities that supports the use of E15. The post went on to take a shot at the ethanol industry itself and specifically, the Blender’s Tax Credit – a financial incentive enjoyed by none other than oil companies themselves – many of which are gasoline blenders.
Also, Big Oil benefits from $17.9 billion in state and federal tax credits and other financial incentives, according to a months-long investigation by news outlet DTN The Progressive Farmer. This does not include additional benefits that come at an extraordinary cost to taxpayers, including U.S. military spending to protect the Persian Gulf – of which Big Oil’s share ranges between $6.9 billion and $28.8 billion.
These public relations efforts by Big Oil are undoubtedly a desperate attempt to hide the true cost of America’s addition to oil. The truth is, E15 is a good value for consumers and given the choice, Americans will demand the fuel that has been proven to be better for our skies, our wallets and our national security. Let's see what Chevron and ExxonMobil do then.