Senate bill aims to create high-octane, low-carbon fuel standard
Summary
“Instead of continuing to buy more oil from foreign adversaries, we should be increasing the use of ethanol made by biofuel producers right here in the United States,” Grassley said. “The Next Generation Fuels Act would help put America back on the path to energy independence while easing the pain at the pump. This is the right approach to energy policy, and I’m proud to work with my colleagues to reintroduce this bill.” “I’ve long pushed for investments in readily-available, domestically-produced biofuels, which are good for drivers and farmers alike,” Klobuchar said. This legislation would give ethanol a greater role in decarbonizing our economy while decreasing volatility and lowering prices at the pump, and we urge all lawmakers on both sides of the aisle to join Senators Grassley and Klobuchar to see the bill quickly signed into law.” “We support this legislation because it would overcome a host of regulatory barriers currently standing in the way of expanding the use of ethanol, from E15 to high octane blends such as E25 or E30, and reinstate incentives for the production of more flexible fuel vehicles (FFVs),” said Brian Jennings, CEO of ACE. “Enactment of the Next Generation Fuels Act would complement that tax credit by helping lower pump prices while enabling greater engine efficiency and biofuel demand, and we look froward to promoting the legislation during our fly-in next week.”