You Would Be Paying $3.25 at the Pump Right Now

Wednesday, June 8, 2011

The following is excerpted from an article in the Baltimore Sun. It was written by Gal Luft, the executive director of the Institute for the Analysis of Global Security and co-author of "Turning Oil into Salt: Energy Independence through Fuel Choice." Here's the excerpt:

The bipartisan Open Fuel Standard Act was introduced recently by Rep. Roscoe Bartlett, Republican of Western Maryland, along with his colleagues Reps. John Shimkus, an Illinois Republican; and Eliot Engel and Steve Israel, both New York Democrats. It would ensure that cars sold in the U.S. are opened to fuel competition so drivers can compare prices per mile and make on-the-fly choices between gasoline or diesel and nonpetroleum fuels made from natural gas, coal and biomass.

The wholesale price for methanol, a natural gas-derived alcohol, is $1.28 a gallon — without any subsidies. As methanol packs less energy per gallon than gasoline, a consumer would pay $3.25 to travel the same distance, well below the current national average of $3.95 for gasoline. Other fuels, such as ethanol, compressed natural gas and electricity, are also fully competitive with gasoline. But unless we have choice at the pump, we will not be able to enjoy their lower cost...

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