In 2006, prices at the gas pump soared to unprecedented levels. Just as they did in the 1970s. And again in the 1990s.

These spikes have been due in large part to America’s dangerous addiction to imported oil. This time, it looks like we’re serious about doing something about it—thanks to decades of work by the corn industry.

The Renewable Fuels Standard (RFS) in the 2005 energy bill requires that 7.5 billion gallons of renewable fuel such as corn-based ethanol be included in the nation’s transportation fuel supply by 2012. (It appears we’ll actually be there by 2008!)

With the RFS, the ethanol industry was “legitimized”— and virtually overnight, the rural landscape began to go vertical with the eight-story-high distillation columns that are the prominent feature of an ethanol plant.

Along with these new biorefineries come thousands of full-time jobs, increased income and investment opportunities for corn producers—and economic vitality that courses through rural communities and eventually reverberates throughout the entire nation. A September 2006 study indicates that a farmer-owned 50 million gallon dry mill ethanol plant contributes as much as 56 percent more to the local economy than an absentee-owned plant—underscoring the importance of farmer ownership to rural development.

More importantly, this acceleration of the domestic production of renewable fuel is helping reduce our reliance on imported oil and the drag on our nation’s economy that comes from high oil prices. As emerging nations such as China and India siphon off even more of the world’s oil supply, America’s ability to “grow its own fuel” will become even more critical to our well being and long-term success.