WASHINGTON, D.C. — Today, Growth Energy submitted answers in response to the request from the House Energy and Commerce Committee for stakeholder input regarding implementation issues and the Renewable Fuel Standard (RFS), echoing CEO’s Tom Buis’ testimony in front of the Subcommittee on Energy and Power on Tuesday.
Like in his testimony, Buis’ comments called on the oil industry to adopt higher blends of ethanol, stating “The RFS was enacted nearly six years ago – it is time for the petroleum industry to move to higher biofuel blends and comply with the law; they have several options to do so, including moving to E15, blending more E85 or other midlevel ethanol blends such as E30. The easiest way to comply is to simply blend E15 and higher ethanol blends.
“For every drop more of ethanol, consumers can benefit. As more and more participants in the liquid fuel marketplace move to higher biofuel blends, consumers will benefit at the pump, while obligated parties will be able to more easily meet their RFS requirements.”
Buis also noted that moving to higher blends of ethanol would address RIN costs as well, stating: “The easiest way to bring down RIN prices and reduce compliance costs is to increase market access for higher blends of biofuels. If the major oil companies stop erecting artificial hurdles to E15 and midlevel ethanol blends, there would be ample RINs available to meet obligations under the RFS.”