WASHINGTON, D.C.—Today in Menlo, Iowa, President Biden toured Growth Energy member plant POET Bioprocessing-Menlo, where he announced that his administration will lift outdated restrictions on E15 for the 2022 summer driving season. Growth Energy CEO Emily Skor, who attended the event, released the following statement:
“This is welcome news for all American drivers seeking lower cost options at the pump. Lifting outdated and unnecessary summertime restrictions on E15 will ensure continued access to a fuel that has been saving drivers as much as 50 to 60 cents a gallon in recent weeks, offering working families relief at the pump at a time when they need it most.
“Not only is this decision a major win for American drivers and our nation’s energy security, it means cleaner options at the pump and a stronger rural economy. American biofuels like ethanol reduce greenhouse gas emissions by 46 percent compared to regular gasoline and are key to achieving the nation’s climate goals.
“We are grateful to President Biden and for the support of champions like Secretary Vilsack who have helped promote American biofuels as a solution to rising gasoline prices. We look forward to working with this administration and leaders in Congress to deliver a permanent fix to restore year-round access to E15 in the years ahead.”
Available at more than 2,600 gas stations across 31 states, E15 is approved for more than 96 percent of light duty vehicles, which account for 98 percent of all vehicle miles traveled. Even before the recent run-up in oil prices, it was estimated that nationwide access to E15 could save drivers $12.2 billion annually in fuel costs.
E15 is a fifteen percent ethanol blended fuel with a lower vapor pressure than E10 (a ten percent ethanol blend). However, due to regulations set 30 years ago and at a time when blending beyond ten percent had yet to be envisioned, E15 has been locked out of the summer market. In fact, fuel volatility and evaporative emissions continue to decrease when ethanol fuel blends increase beyond E10.
POET is a founding member of Growth Energy and has hosted the last four U.S. presidents at one of their biorefineries. This is also the second time President Biden has visited a Growth Energy plant. As a presidential candidate, Biden toured Growth Energy member Big River Resources in Burlington, Iowa in 2019.
We recently hosted U.S. Sen. Steve Daines at the CHS refinery in Laurel, Montana. The event included a tour and a discussion about domestic energy policy, and how the refinery supports our customers and owners across rural America. https://t.co/xe0NF7MSUb