Governors Call for Near Doubling of Ethanol Use by 2010
Wednesday January 10, 12:24 pm ET
Ask President and Congress to Pass Four Recommendations
LINCOLN, Neb., Jan. 10 /PRNewswire/ -- The 37 gubernatorial members of the Governors' Ethanol Coalition today released a report, Ethanol from Biomass: How to Get to a Biofuels Future, which asks the President and members of Congress to adopt four recommendations:
* Expand the Renewable Fuels Standard (RFS) to include a short-term target of 12 billion gallons a year of ethanol and biodiesel utilization by 2010, and longer-term British thermal unit-based targets of 15 percent of total motor fuels consumption by 2015 and 25 percent by 2025, with equal incremental steps provided for each year in between; * Assign a financial value to the RFS cellulosic ethanol 2.5:1 trading credit into a more practical credit. * Establish a timetable for delivering 85% ethanol/15% gasoline infrastructure on a regional basis within five years. * Provide adequate funding for the Energy Policy Act of 2005 authorized biofuel research, demonstration and incentive programs.
According to a study by the Coalition, adoption of a goal of providing 20 percent of the nation's fuel supply from biofuels would produce benefits:
* About 60 billion gallons of ethanol produced annually; * $52 billion a year in avoided oil imports, reducing the trade deficit; * $110 billion in direct economic activity each year with an annual impact of $368 billion on the nation's economy; * 2.4 million new jobs.
Source: Governors' Ethanol Coalition
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