Attacks on Saudi oil fields expected to make gas prices spike soon in Missouri

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Gas prices are expected to sour nationwide and in Missouri soon. Geoff Cooper of the Renewable Fuels Association in Washington, D.C. says the fuel price spikes after the attacks over the weekend on Saudi Arabia oil fields show the U.S. cannot “frack its way to energy independence”.

Attacks on Saudi oil fields expected to make gas prices spike soon in Missouri

“We are calling on the (Trump) administration, in the wake of this crisis, to do more to unleash the power and the potential of renewable fuels like ethanol in our domestic fuel supply,” Cooper says.

He says the drone attacks are exactly why the U.S. has the Renewable Fuels Standard.

“We have to diversify our liquid fuel supply in order to protect ourselves and insulate ourselves from these sorts of price shocks and price spikes that come from these sorts of geopolitical events,” he says.

Cooper says gas prices will continue to rise in the coming weeks.

He says the Trump administration must fully enforce the Renewable Fuels Standard and remove regulatory barriers to higher blends of ethanol. Cooper says that means restoring the lost gallons from improper Renewable Fuels Standard waivers.

The U.S. imports about 45% of its oil supply that is processed into gasoline.

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