EPA plan to Delay RFS Requirements Pt 2
I’m Bob Larson. The ethanol industry claims the Biden administration could secure lower gas prices “almost immediately” if it allowed higher blends of corn ethanol, YEAR-ROUND, into the nation’s fuel supply.
All eyes are on the President’s decision to release 50 million barrels of oil, a three-day U.S. supply, from the Strategic Petroleum Reserve, but Renewable Fuels Association chief Geoff Cooper says there’s a faster, more efficient way to cut gas prices …
COOPER … “If you allow more ethanol into the blend, it’s going to reduce the price, it’s going to extend our supply of domestic fuel, and that’s going to help put downward pressure on pump prices.”
President Biden has asked the Federal Trade Commission to probe gas prices, but Cooper complains Biden is wrong to open the Strategic Petroleum Reserve …
COOPER … “This administration should be relying on its ‘Strategic Biofuels Reserve’ that we have in this country, rather than tapping into the SPR.”
Something Cooper says could be done quickly …
COOPER … “If this administration took the steps to allow the year-round sale of E15, which they could absolutely do, and took other steps to approve the compatibility of underground storage tanks to really reenergize the production of flex-fuel vehicles, we could have an immediate impact on fuel prices.”
Cooper says ethanol’s been about 40 cents a gallon cheaper than gasoline over the last ten years, while the oil industry stepped up its fight against the Renewable Fuel Standard cutting into oil profits.
Year-round E15 use was struck down by the courts and is now on appeal to the Supreme Court.
