Growth Energy thanks Biden Administration for biofuels support
Growth Energy CEO Emily Skor has thanked President Biden and Congressional leaders for including nearly $1 billion (€858 million) in biofuels infrastructure investments in the proposed Build Back Better budget reconciliation framework.
The Build Back Better Act has been designed to create millions of good-paying jobs, enable more Americans to join and remain in the labour force, spur long-term growth to reduce price pressures and set the US on course to meet its clean energy ambitions.
In a section of the almost 2,500-page bill titled ‘Biofuel Infrastructure and Agriculture Product Market Expansion’, the Administration notes that $960 million (€824 million) will be available over the next 10 years to provide competitive grants to install, retrofit or otherwise upgrade fuel dispensers or pumps and related equipment, storage tank system components, and other infrastructure required to supply fuel containing E10 ethanol fuel blends or B20 biodiesel blends.
The funding will be used to build and retrofit distribution systems for ethanol blends, traditional and pipeline biodiesel terminal operations (including rail lines) and home heating oil distribution centres or equivalent entities – to blend biodiesel and to carry ethanol and biodiesel.
Entities eligible to receive a grant under this section are transportation fuelling and distribution facilities, including fuelling stations, convenience stores, hypermarket retailer fuelling stations, fleet facilities, and fuel terminal operations, mid-stream partners, and heating oil distribution facilities (or equivalent entities).
A new tax credit was also included in the framework to support the creation and usage of sustainable aviation fuel.
“President Biden’s proposal to invest $1 billion (€858 million) in biofuels infrastructure is a welcome acknowledgement from this administration to higher blends of biofuels at the pump makes a real difference in decarbonising transportation,” said Skor.
“Recent research shows that a nationwide E15 standard would reduce CO2 emissions by more than 17.62 million tons – the equivalent of taking 3.85 million cars off the road each year.
“Investing in fuel infrastructure that allows more American drivers to fill up on low-carbon biofuel blends, like E15, is crucial to helping our nation achieve our clean energy goals today.”
US Representative Cindy Axne, representing the third district of Iowa, commented: “Not only does the Build Back Better Act represent the largest investment in clean energy and combating climate change ever, but it also confirms that my colleagues have listened to my central argument in our clean energy discussions: biofuels can and should be a part of our fight against climate change.”
The Build Back Better Act has been designed to create millions of good-paying jobs, enable more Americans to join and remain in the labour force, spur long-term growth to reduce price pressures and set the US on course to meet its clean energy ambitions.
In a section of the almost 2,500-page bill titled ‘Biofuel Infrastructure and Agriculture Product Market Expansion’, the Administration notes that $960 million (€824 million) will be available over the next 10 years to provide competitive grants to install, retrofit or otherwise upgrade fuel dispensers or pumps and related equipment, storage tank system components, and other infrastructure required to supply fuel containing E10 ethanol fuel blends or B20 biodiesel blends.
The funding will be used to build and retrofit distribution systems for ethanol blends, traditional and pipeline biodiesel terminal operations (including rail lines) and home heating oil distribution centres or equivalent entities – to blend biodiesel and to carry ethanol and biodiesel.
Entities eligible to receive a grant under this section are transportation fuelling and distribution facilities, including fuelling stations, convenience stores, hypermarket retailer fuelling stations, fleet facilities, and fuel terminal operations, mid-stream partners, and heating oil distribution facilities (or equivalent entities).
A new tax credit was also included in the framework to support the creation and usage of sustainable aviation fuel.
“President Biden’s proposal to invest $1 billion (€858 million) in biofuels infrastructure is a welcome acknowledgement from this administration to higher blends of biofuels at the pump makes a real difference in decarbonising transportation,” said Skor.
“Recent research shows that a nationwide E15 standard would reduce CO2 emissions by more than 17.62 million tons – the equivalent of taking 3.85 million cars off the road each year.
“Investing in fuel infrastructure that allows more American drivers to fill up on low-carbon biofuel blends, like E15, is crucial to helping our nation achieve our clean energy goals today.”
US Representative Cindy Axne, representing the third district of Iowa, commented: “Not only does the Build Back Better Act represent the largest investment in clean energy and combating climate change ever, but it also confirms that my colleagues have listened to my central argument in our clean energy discussions: biofuels can and should be a part of our fight against climate change.”
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