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.