Saying consumers can’t keep paying what they have been at the pump, Rep. Eliot Engel was pushing a bill that would establish an open fuel standard.
WCBS 880′s Catherine Cioffi reports
“I think that would go a long way to try to force prices down,” he said. “When you have ethanol, methanol and gasoline you’ll have competition between the three.”
This standard would require half of all cars made or sold in the U.S. by 2014 to be flex-fuel vehicles. The number would then increase to 95 percent by 2017.
“Ultimately the United States has to wean itself off of foreign oil,” he said. “It would only cost about $80 a car to manufacture cars that would be flex-fuel cars, which means they can run on ethanol, methanol and gasoline.”
Engel said competition was the only way to take power away from big oil companies.
Do you agree with Congressman Engel? Leave a comment below…