Midwest lawmakers hope a new report out this week from S&P Global and commissioned by U.S. Farmers and Ranchers in Action (USFRA) will help grow momentum to get a bill allowing nationwide, year-round sales of 15% ethanol fuel through the Senate.
At a press conference announcing the report, Sen. Chuck Grassley (R-IA) said time is running out to get legislation passed before the end of the year. “Enacting E-15 is a perfect way to celebrate America’s 250th years of freedom,” said Grassley. “But we got to move, and it’s almost too late now if we don’t get some action. So anything you can do to help, and this report is going to help, I’m going to say God bless you.”
USFRA biofuels report - Sen. Grassley (8:06)
Minnesota Democrat Sen. Tina Smith said the study shows a way forward for farmers. “We have a need to boost demand for commodity crops. We have a need to figure out steps that we can take to bring down the input costs that farmers are experiencing,” said Sen. Smith. “And so putting a big emphasis on how biofuels and ethanol, all biofuels, can kind of be a path forward to a new structural a new structure for agriculture is just really exciting.”
The study projects global biofuel production driven by agricultural innovation could triple by 2050, expanding renewable fuels to capture a significantly larger share of the approximately 940-billion-gallon global liquid fuel market – including marine and aviation fuels.
Watch the full press conference on the USFRA YouTube channel.