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Friday, June 30, 2006 10:11:18 PM
Here is what I got back from Obama after I had written him and mentioned Xcelplus.
Thank you for contacting me regarding your support for the increased use of ethanol as an alternative fuel. I appreciate hearing from you.
With more than two-thirds of the nation’s petroleum demand currently generated by motor fuels usage and gas prices burning holes in consumers' pocketbooks, ethanol has become a focal point in the discussion about the future of renewable fuels in America. The expanded production and use of home-grown, renewable fuels like ethanol and biodiesel is a proven means of reducing our dependence on foreign oil and putting downward pressure on gasoline and other energy prices.
I am pleased to report that two ethanol provisions I have been promoting since early in the first session of the 109th Congress were included in the final version of H.R. 6, the Energy Policy Act of 2005, which has been signed into law by the President. First, H.R. 6 includes the language I introduced early this year as S. 918 and establishes a tax credit for the installation of E-85 pumps at service stations I initially proposed in March. Second, it also contains a new renewable fuels standard (RFS) that was initially drafted by the Senate Environment and Public Works Committee on which I serve that will nearly double the amount of ethanol used in gasoline over the next seven years.
With the rise of alternative fuel vehicles produced by automakers and improvements in ethanol production technology, one remaining obstacle to the expanded use of ethanol-blended gasoline is the lack of gas stations that pump E-85. While there are more than 170,000 gas stations all over America, less than 700 offer E-85. If we want to take full advantage of the benefits of ethanol-blended gasoline, it is essential that E-85 be more readily available to the owners of flexible fuel vehicles that can already run on either conventional gasoline or 85% ethanol blends. The E-85 tax credit in the energy bill will help service station owners afford the installation of these pumps, thereby making the fuel more accessible to consumers, increasing the demand for ethanol and reducing the cost of gasoline for motorists by as much as 50 cents per gallon.
In addition, the new renewable fuels standard established in H.R. 6 requires refiners to purchase a minimum amount of ethanol for use in gasoline each year. That minimum volume increases by a set amount each year until it reaches a minimum of 7.5 billion gallons in 2012. Together, the RFS and E-85 will not only help ethanol displace more foreign oil, they will also boost farm income by expanding the market for corn and soybeans and promote economic growth in rural areas by attracting investment in community-size ethanol plants across Illinois. The new demand for ethanol will add tens-of-thousands of new jobs throughout our national economy, many of them in Illinois, and is expected to increase the price of corn by as much as 50 cents per bushel.
Thank you again for writing.
Sincerely,
Barack Obama
United States Senator
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