Commemorating the 15th anniversary of President George W. Bush’s signing of the Energy Policy Act of 2005, which created the Renewable Fuel Standard, the Renewable Fuels Association today released a report detailing how the industry has benefited the nation over the past decade and a half.
“As you’ll see in this report, the RFS has been a smashing success,” said RFA President and CEO Geoff Cooper. “In addition to decreasing reliance on imported petroleum, the RFS has reduced emissions of harmful tailpipe pollutants and greenhouse gases, lowered consumer fuel prices, supported hundreds of thousands of jobs in rural America, and boosted the agricultural economy by adding value to the crops produced by our nation’s farmers.”
The report details how, since 2005:
- Ethanol and co-product output has quadrupled, and the number of jobs supported by the industry has more than doubled;
- Ethanol has contributed substantially to the agriculture sector, supporting corn prices and farm incomes;
- Ethanol consumption has more than tripled, enhancing U.S. energy security while saving consumers money at the pump;
- The use of ethanol has reduced greenhouse gas emissions and cleaned up air pollution;
- As ethanol production has increased, U.S. food price inflation has fallen and the number of people globally who are undernourished has declined.
The report also includes historical perspective from RFA Senior Strategic Advisor Bob Dinneen, who led RFA through this important policy change. “We’ve probably all seen the Schoolhouse Rock version of ‘How a Bill Becomes a Law’,” Dinneen writes. “It does a great job of explaining the legislative process. But it cannot capture the circuitous adventure and machinations that occur before an idea materializes into legislative language. That is particularly true when it comes to the 2005 Energy Bill and the Renewable Fuel Standard.”
