A bill introduced yesterday by Sens. Amy Klobuchar (D-MN) and Tim Johnson (D-SD) called the Securing America’s Future with Energy and Sustainable Technologies (SAFEST) Act establishes strong renewable energy and energy-efficiency standards, incentives for developing biofuels and biofuel infrastructure, and targets for the availability of advanced vehicle technologies. More specifically, the legislation would establish new incentives for biofuels infrastructure and deployment and a more cost-effective extension of tax credits for ethanol and biodiesel that reward efficient producers. In addition, on the biofuels front, it would set targets for flex-fuel vehicle development and deployment.
“The strength of our nation is tied to the strength of our energy economy,” Klobuchar said. “The United States has the ability to be the global leader in energy because of the ingenuity of our farmers and manufacturers. At a time of rising gas prices, this bill will provide incentives that can help us utilize more homegrown biofuels, strengthen our homegrown energy economy in Minnesota, and secure our energy future.”
Bob Dinneen, President and CEO of the Renewable Fuels Association said, “We thank Senator Klobuchar for her proposal. It is very thoughtful and covers many key points necessary for industry growth and responsible fiscal reform. This bill, along with other proposals such as a variable tax credit, deserve serious attention. Now is the time for this country to engage in a meaningful dialogue about our energy future. That discussion must include all forms of energy and all options must be on the table.”
And Tom Buis, CEO of Growth Energy added, “With the price of oil skyrocketing to $100 a barrel, we need a national energy policy that reduces our dependence on foreign oil, creates jobs here in the United States, improves our environment and strengthens our national security. Legislation that promotes access to higher levels of ethanol will help our nation achieve these goals. We commend Sens. Klobuchar and Johnson for their efforts to ensure a cleaner, more secure energy future for America.”