WASHINGTON, D.C. – Today, Growth Energy CEO Emily Skor applauded members of the U.S. House of Representatives, led by Reps. Randy Feenstra (R-Iowa), Cheri Bustos (D-Ill.), Ashley Hinson (R-Iowa), and Angie Craig (D-Minn.) for introducing the Home Front Energy Independence Act (H.R. 7175). In response to rising gas prices and the global energy crisis due to the war in Ukraine, this legislation would make the sale of E15 year-round permanent, create a tax credit for higher biofuel blends, streamline E15 labeling, provide funding for E15 infrastructure, extend the biodiesel tax credit for three more years, and ban imports of Russian petroleum products.
“We have an opportunity to lower prices at the pump today for American drivers by increasing access to E15 fuel,” said Growth Energy CEO Emily Skor. “As gas prices across the country hit historic highs, higher blends like E15 have been selling for, in some instances, more than 50 cents cheaper per gallon. The Home Front Energy Independence Act would increase access to these cost savings across the country and all year long.
“The war in Ukraine has also thrown America’s reliance on foreign oil, and the market uncertainty it creates, into the spotlight. The Home Front Energy Independence Act would boost U.S. energy security by increasing the supply of lower-cost, homegrown biofuels available to drivers.”
Since the Renewable Fuel Standard was enacted in 2005, America’s crude oil imports have dropped almost 50 percent. Homegrown, plant-based ethanol displaces the gasoline produced from more than 700 million barrels of oil every year.
H.R. 7175 is the House companion bill to S. 3787, introduced by Sen. Joni Ernst (R-Iowa) and Sen. Amy Klobuchar (D-Minn.)