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Drone attacks Saturday in Saudi Arabia that destroyed oil fields show diversification, which includes biofuels, could curb market volatility, according to the Renewable Fuels Association.
RFA President Geoff Cooper says the United States imported 2.8 billion barrels of crude oil last year, equivalent to 45 percent of the oil processed by U.S. refineries.
$18 billion flowed out of the U.S. economy to Saudi Arabia in return for 330 million barrels of petroleum.
However, U.S. farmers helped produce more than 380 million barrels of “lower-cost, cleaner-burning renewable fuel last year-more barrels than we imported from Saudi Arabia.”
Cooper says the United States cannot “simply frack its way to energy independence,” in his call to increase biofuels use.
Cooper says with enforcement of the Renewable Fuel Standard, removal of regulatory barriers, and a rapid transition to 15 percent ethanol blends nationwide, U.S. ethanol producers could quickly ramp up production and help fill the void in the global liquid fuel supply caused by the Saudi oil attacks.

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