The Energy Security and Independence Act (EISA) which expanded the Renewable Fuels Standard (RFS) is officially a year old today.
The ethanol industry is looking forward to the future for the RFS, which requires the use of ethanol and other renewable fuels to reduce dependence on foreign oil, after it survived a major challenge this year by the governor of Texas.
Renewable Fuels Association president Bob Dinneen says the RFS provides an important platform for the incoming Obama Administration. “President-elect Obama’s green jobs and green energy agenda are a perfect fit with expanding America’s production of the only green fuel that is reducing foreign oil dependence and global warming emissions today,” Dinneen said.
Despite all the challenges faced by the ethanol industry this year, production has been expanded significantly from 6.9 billion gallons in 2007 to over 10 billion gallons today. Ethanol represents more than 7% of the nation’s gasoline supply and can be found in more than 70% of gasoline gallons sold in the US.
The Renewable Fuels Standard requires 36 billion gallons of annual renewable fuel use by 2022, with 16 billion gallons of that to come from cellulosic sources. “The Renewable Fuels Standard is an ambitious target and one America’s ethanol industry is more than capable of meeting,” said Dinneen. “The investments being made and research being conducted at the private and public sector level will ensure this industry rises to meet this challenge.”