White House Fuel Price Plan Overlooks Biofuels

Cindy Zimmerman

Biofuel organizations are baffled by the White House “Plan to Respond to Putin’s Price Hike at the Pump” released Thursday that completely ignores increasing use of renewable fuels.

The plan to address higher fuel prices resulting from Russia’s invasion of Ukraine calls on petroleum companies to ramp up oil production and includes an unprecedented release of up to 180 million barrels of oil from the Strategic Petroleum Reserve. Biden also is authorizing the use of the Defense Production Act to support the extraction and processing of minerals and materials used for large-capacity batteries, such as lithium, nickel, cobalt, graphite, and manganese. But no mention of biofuels.

“It is baffling to us that President Biden continues to overlook ethanol, which is the most readily available, lowest-cost, and lowest-carbon option for extending our nation’s fuel supply,” said Renewable Fuels Association President and CEO Geoff Cooper. “Rather than draining our strategic petroleum reserve and scolding U.S. oil producers for failing to increase production, we believe the administration should be empowering farmers and ethanol producers. They are eager to do their part to deliver economic relief and energy security for their fellow Americans. Today, ethanol is selling for $1 per gallon less than gasoline and we are sitting on record ethanol inventories and ample spare capacity; yet access to the marketplace continues to be limited by decades-old regulatory barriers that never made sense.”

President Biden has been sent letters from members of Congress; agricultural and biofuel organizations; and even more than 1000 farmers and supporters over the past month urging him to unleash the power of higher blends of renewable fuels to lower prices at the pump. Specifically, simply allowing gasoline blenders to sell E15 year-round, which could be accomplished by administrative action.

Biodiesel, biofuels, Ethanol, Ethanol News, RFA