WASHINGTON – Today, Growth Energy released the following statement regarding the signing by the President of the American Recovery and Reinvestment Act of 2009:

Growth Energy applauds the inclusion of measures supporting the renewable fuels industry in the American Recovery and Reinvestment Act of 2009.

The Act includes several provisions to spur the continued growth of the renewable fuels industry including funding for biomass research, development and deployment activities, loan guarantee funding for biofuels projects, increases in alternative refueling property credits and an investment tax credit for advanced energy projects. These measures will help speed the development of next-generation cellulosic ethanol that promises significant job creation, as well as considerable reductions in greenhouse gas emissions. The U.S. Department of Energy estimates that every additional billion gallons of ethanol produced create as many as 20,000 new jobs.

Ethanol is America’s best fuel now and will help boost our domestic economy through the creation of green-collar jobs, while reducing our dependence on foreign oil and addressing the challenge of climate change. We commend President Obama for his continued support and recognition of ethanol’s tremendous benefits to our nation’s economy, environment and national security.

 

About Growth Energy

Growth Energy is a group committed to the promise of agriculture and growing America's economy through cleaner, greener energy. Growth Energy members recognize America needs a new ethanol approach. Through smart policy reform and a proactive grassroots campaign, Growth Energy promotes reducing greenhouse gas emissions, expanding the use of ethanol in gasoline, decreasing our dependence on foreign oil, and creating American jobs at home. More information can be found at GrowthEnergy.org.

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CEO @GrowthEnergy tells IRS how #ethanol plants can lead the way on #carbon capture https://t.co/xiHAipVJpI

via @FuelsAmerica

As @RepCheri Bustos says here, the biofuels industry has a cascading effect on agriculture — it promotes strong supply chains and multiplies rural economic output. Abuse of the Renewable Fuel Standard through refinery exemptions only serves to harm the ag economy. https://t.co/pvW7P4yZ4F

via @GrowthEnergy

The future of fuel — increased engine performance, lowering our carbon footprint, and eliminating toxic fuel additives — is already here. At @EESI's Clean Energy Expo, Growth Energy SVP of Regulatory Affairs Chris Bliley laid out the benefits that expanding ethanol can bring. https://t.co/aW5v9A4prB

via @GrowthEnergy

In a letter to the IRS, GE CEO @EmilySkor proposes applying the 45Q performance based carbon tax credit to carbon capture projects at ethanol plants as a way to incentivize and expand their further use. Biofuel producers are ready to do more!  See the letter here: https://t.co/MtEDPF0jKy

via @GrowthEnergy