FACT: Biofuels Moderate Prices at the Pump

OTTAWA, ONTARIO, May 20 (MARKET WIRE) --
Oil prices hit an all-time high of $129 per barrel today. Gasoline and
diesel prices at the pump keep rising right across Canada, negatively
affecting all drivers and consumers. This is because high fuel costs mean
higher prices for absolutely everything Canadians purchase. Biofuels are
here today, biofuels are the only viable alternative to oil in the
transportation sector, and biofuels are helping to lower prices at the
pump.

- 'Without biofuels, which can be refined to produce fuels much like the
ones made from petroleum, oil prices would be even higher. Merrill Lynch
commodity strategist Francisco Blanch says that oil and gasoline prices
would be about 15% higher if biofuel producers weren't increasing their
output.' - Wall Street Journal, March 24th, 2008

- 'To replace the global supply of ethanol and biodiesel-based biofuels
added to the U.S. and European markets since 2005 would require an
additional 1 million barrels of crude oil to be processed per day, the
International Energy Agency said Tuesday..."It is sobering to realize the
amount of oil that would be needed to replace them," said the IEA.' - Dow
Jones Newswires, May 13th, 2008

- Iowa State University researchers recently studied the impact ethanol
has on gasoline prices in the U.S., finding that by expanding the fuel
supply, ethanol has lowered gas prices by between (depending on the
region) 29 and 40 cents per gallon. - Xiaodong Du and Dermot J. Hayes,
'The Impact of Ethanol Production on U.S. and Regional Gasoline Prices
and on the Profitability of the U.S. Oil Refinery Industry', Iowa State
University, Center for Agricultural and Rural Development, April 2008.

- 'The 'explosive production (of ethanol) is stifling an established
driver of oil markets -- U.S. gasoline demand -- and could lead to lower
prices at the pump..."Ethanol blending could help ease U.S. refining
bottlenecks and that could be ultimately reflected in lower prices at the
pump," said Eric Wittenauer, an analyst at AG Edwards in St. Louis.' -
Reuters, February 14th, 2008

- 'The International Energy Agency said that crop-based fuels were vital
to meeting the world's current and future energy demand. Biofuels already
make up about 50 per cent of the extra fuel coming to the market from
sources from outside of the Opec oil cartel this year. This explains why
fears of a retreat this week helped drive oil prices to record
levels...William Ramsey, deputy executive director of the IEA, said: "If
we didn't have those barrels, I am not sure where we would be getting
those half a million barrels."' - Financial Times, April 26th, 2008

- 'Truck drivers who bring food to the grocery store have taken a beating
at the gas pump - even more than you have. The cost of diesel has jumped
twice as much as regular unleaded gas. The national average for diesel is
hovering above $4 a gallon. How bad is it? Truck drivers are paying 164%
more than they did 5 years ago. That means it cost them an additional
$756 to fuel up a typical tractor-trailer. You read right - $756 more! To
keep on truckin,' trucking companies need to pass some of that increase
onto food companies, grocery stores, and the end consumer.' - Illinois
Farm Bureau, www.farmingforyou.org

Contacts:
CRFA
Robin Speer
Vice President, Public Affairs
(613) 295-6485
Website: www.greenfuels.org

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