President Promotes Renewable Fuels

Cindy Zimmerman

Bush RFA speech President Bush announced steps he is taking to address high gas prices during a speech today to the Renewable Fuels Association in Washington. Bush announced the government would “stop making purchases or deposits to the Strategic Petroleum Reserve” for the summer, that EPA would be allowed to waive local fuel requirements regarding the switch from MTBE to ethanol, and called for the formation of a task force on so-called “boutique fuels.” Bush also heavily promoted domestic fuels, both ethanol which he says has “the largest potential for immediate growth,” and biodiesel, which is why he “signed into law the first ever federal tax credit for biodiesel producers.” Bush said, “We owe it to the American people to be aggressive in the use of technology so we can diversify away from the hydrocarbon society.” The National Biodiesel Board was pleased with the president’s comments about biodiesel, which were greeted with applause.

Biodiesel, Ethanol, Government