Just a quick note to let you all know we are listening in on the House Energy and Power Subcommittee Hearing on Renewable Fuels. I’ll have more details later, but I can tell you that there is some differences in opinion between those testifying today.

Jack Gerard, President and Chief Executive Officer of the American Petroleum Institute is making the argument that the Renewable Fuels Standard (RFS) is unrealistic and a threat to consumers. He calls for an overhaul of the RFS.

Meanwhile, Bob Dinneen, President and Chief Executive Officer of the Renewable Fuels Association, strongly argues that the RFS does not need such overhauling. He points out that ethanol is lowering the price of gas to the tune of about $1.09 a gallon, and the the next generation of biofuels is happening today.

I’ll have more details and some audio later on, but we just wanted to update as the hearing is going on. You can listen and watch it here.

*POST UPDATE*
Hearing opening statements from Gerard and Dinneen: Jack Gerard and Bob Dinneen