Summertime E15
I’m Bob Larson. The ethanol industry says President Biden’s announcement that he’ll restore summertime E15 sales should help ease soaring gas prices.
Renewable Fuels Association chief Geoff Cooper says they’ve been pressing the White House on this for months …
COOPER … “Ethanol is cheaper than gasoline today at the wholesale level, it’s been selling for 70 to 80-cents per gallon less than gasoline in recent weeks, and so commonsense tells you that when you add more of a lower cost fuel, the resulting cost of the finished fuel for the consumer, is going to be reduced.”
Cooper says nationwide access to E15 could save drivers more than $12-billion annually …
COOPER … “That $12 billion number is based on an assumption that E15 is going to replace E10 universally in the marketplace. We know that’s not going to happen overnight, that’s not going to happen this summer…but what we do know is that for drivers that are buying E15 today, they are getting a 25 or 30-cent per gallon discount in many cases.”
But chances of EXTENDING the Biden emergency summertime waiver …
COOPER … “The White House today, in this announcement, hints at the fact that they are interacting with a group of states, primarily Midwest states, on a long-term permanent solution that hopefully, will be in place before summer 2023, and would obviate the need for any sort of emergency waivers, at that point.”
2,600 gas stations in 31 states now sell E15, approved for 96% of light-duty vehicles.
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Biden also announced his administration will soon disburse long-awaited COVID-19 emergency relief funding to renewable fuel producers and increase investments in low-carbon sustainable aviation technologies.
