This week's announcement by the EPA rejecting Texas Governor Rick Perry's request to waive the ethanol requirements for our nation's fuel supply was widely supported by our nation's leaders and policymakers.One of the more informative releases came from the Department of Energy headed by Secretary Bodman. In his statement on the EPA's decision he noted the environmental and security benefits of biofuels:
“Clean, green, domestic, sustainable biofuels that reduce greenhouse gas emissions and increase our energy security are a crucial part of America’s energy policy. Advanced biofuels are just one part of a diverse portfolio of renewable energy and efficiency technologies that the Department of Energy is pursuing."More importantly, the EPA clearly recognized the value that biofuels play in expanding our fuel supply and helping to keep gas prices lower. Studies have shown this to be the case. And the Energy Secretary made this point clear as well:
“Last year, the President proposed and Congress passed the most aggressive alternative fuel and vehicle efficiency standards ever considered. Biofuels presently blended into our fuel supply are one of the only forces applying downward pressure on the price of gasoline.The DOE also released two reports that summarize biofuel's beneficial impact on gas prices as well as dispelling myths concerning greenhouse gas emissions:
In June, DOE announced an estimate that gasoline prices would be between 20 cents to 35 cents per gallon higher without ethanol, a first-generation biofuel. Also, without biofuels, DOE estimates that the U.S. would have to use 7.2 billion more gallons of gasoline in 2008 in order to maintain current levels of travel, a 5 percent increase."
- Fact Sheet: Gas Prices and Oil Consumption Would Increase Without Biofuels (pdf)
- Biofuels & Greenhouse Gas Emissions: Myths versus Facts (pdf)
READ MORE
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- Biofuels Myths vs Facts
- New Texas A&M Study Shows Higher Oil Prices are Impacting Consumer Prices
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