Saturday, August 8 marked the official 10th anniversary of President Bush signing the Renewable Fuel Standard (RFS) into law. The legislation promotes the use of biofuels in replacement of fossil fuels and is in effect until 2020. According to Growth Energy CEO Tom Buis, the RFS has been an overwhelming success and is accomplishing the goals it was designed to achieve.
Buis said, “The RFS has been an overwhelming success and it is important that we as a nation recognize how much this policy has done to help improve the lives of all Americans. This bipartisan law was passed in Congress in 2005 and strengthened in 2007 with several policy goals: energy security, job creation and reduced greenhouse gas emissions. I am pleased to say that it has done that and more.”
He cited that America’s dependence on foreign oil has been reduced from 60 to 27 percent and said nearly 400,000 jobs have been created. “Furthermore, said Buis, “no beaches have ever been closed because of an ethanol spill – and that is something to celebrate as Americans across the country take their vacations over the summer to beaches near and far.”
Buis also using the levels set forth in the RFS will reduce greenhouse gas emissions (GHGs) in an equivalent of removing 27 million cars off the road. And in 2014, 13.4 billion gallons of ethanol was blended into fuel across the country, eliminating the equivalent of GHGs of removing 8 million cars off the road. In addition, he said farmers from across the country are celebrating the event as a milestone for opening new markets and creating economic opportunity for their families and communities and he encouraged consumers to also celebrate the anniversary because ethanol lowers the cost of fuel at the pump.
“The RFS is the only meaningful policy to help break Big Oil’s stranglehold on the liquid fuels marketplace. The RFS is working. It is doing exactly what it was intended to do, with great success,” added Buis. “That is why we should acknowledge this historic milestone, but more importantly, the success of the RFS should renew Congress’ and EPA’s faith in this program. They must ensure we continue down a path of renewable fuel innovation by continuing to support the RFS and refusing to accept the status quo of foreign oil and fossil fuels as our transportation energy future.”