Senator Holds Hearing to Explore Economic Impact of Advanced Biofuels
WASHINGTON, DC —Today, the Senate Agriculture Committee held a hearing on the economic benefits of advanced biofuels. In response to the hearing, Growth Energy CEO, Tom Buis, stated, “I am grateful to Sen. Stabenow for taking the time to investigate the true impact of biofuels on our nation’s economy. First generation biofuels have created nearly 400,000 jobs, revitalized our rural communities and have reduced our dependence on foreign oil while significantly reducing greenhouse gas emissions. These first generation fuels have set the foundation for further advancements in next generation ethanol, including deriving the fuel from sources such as farm waste, plants, and wood waste. With over a billion tons of available biomass, the potential for advanced biofuels are limitless.
“Higher blends such as E15 and next generation biofuels will help us break through the blendwall. They have the ability to further reduce our dependence on foreign oil, create as many as 130,000 more jobs in our rural communities, further support our farmers and present consumers with a choice and savings at the pump. But in order to achieve these goals, we need to focus on developing the infrastructure to give consumers access to the fuel of their choice.”
One of the key testimonies was presented by CEO of Richard Childress Racing and Growth Energy Board Member, Richard Childress. His testimony largely focused on the benefits of biofuels in NASCAR and the substantial improvements Sunoco Green E15, the 15 percent ethanol blend used in the sport, has had in the world of stock car racing.
“Sunoco Green E15 has proven to be a reliable fuel for Richard Childress Racing and for the entire NASCAR community,” Childress stated in his written testimony. “Now in its fourth season of use, the fuel has been driven more than 5 million miles with no reported engine conditions or increased maintenance issues. The fuel has increased horsepower while decreasing emissions by 20 percent.”
Buis concluded, “By reducing Renewable Volume Obligations, which the EPA recently proposed, we will see a major impact on the infrastructure needed for these higher blends as well as the development of next generation biofuels, which could impede future economic growth for our entire country.”