Renewable Fuel Pipeline Act makes a comeback
The Renewable Fuel Pipeline Act of 2010 is being brought back under US congressman Leonard Boswell. The reintroduced act has been restructured in order to help it pass through the committee and reach consideration.
According to Boswell, ‘The Renewable Fuel Pipeline Act is an important piece of legislation to Iowa’s local communities and economies that have come to rely on the biofuels industry. The construction of a pipeline to move ethanol out of the Midwest and to the coasts will create nearly 80,000 jobs while contributing $6.6 billion (€4.9 billion) to the US economy.’
Boswell claimed that companies Poet and Magellan have already expressed interest and have finished a viability study on a renewable fuel pipeline that would start from Middle America and run to the East Coast. It was found that the pipeline would add $3.7 billion in household income, $700 million in federal tax revenue, and $600 million in state and local tax revenues.
According to Boswell, ‘The Renewable Fuel Pipeline Act is an important piece of legislation to Iowa’s local communities and economies that have come to rely on the biofuels industry. The construction of a pipeline to move ethanol out of the Midwest and to the coasts will create nearly 80,000 jobs while contributing $6.6 billion (€4.9 billion) to the US economy.’
Boswell claimed that companies Poet and Magellan have already expressed interest and have finished a viability study on a renewable fuel pipeline that would start from Middle America and run to the East Coast. It was found that the pipeline would add $3.7 billion in household income, $700 million in federal tax revenue, and $600 million in state and local tax revenues.
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