The Renewable Fuels Association welcomes President Joe Biden’s announcement today that his administration will act quickly to ensure American consumers have uninterrupted access this summer to gasoline containing 15 percent ethanol (E15)—the lowest-cost and cleanest fuel available in the marketplace today.
President Biden is visiting the POET Bioprocessing facility in Menlo, Iowa, today to formally announce the plan, along with other actions meant to stimulate increased domestic production and use of low-carbon renewable fuels. RFA President and CEO Geoff Cooper and other ethanol industry leaders will be on hand to participate in today’s event.
“We applaud President Biden and his administration for recognizing that low-cost, low-carbon ethanol should be given a fair opportunity to strengthen our energy security and reduce record-high pump prices,” Cooper said. “Giving fuel retailers the freedom to offer E15 this summer will not only result in lower fuel prices for hardworking Americans, but it will also cut greenhouse gas emissions and reduce tailpipe pollution linked to cancer, heart disease, respiratory illnesses, and other health concerns. As our nation copes with energy price inflation and strives to enhance energy security and diversity, we salute President Biden for turning to America’s farmers and biofuel producers for ingenuity and solutions.”
In recent months, E15 has typically sold for 15–25 cents per gallon less than standard gasoline with 10 percent ethanol (E10), and 60–80 cents per gallon less than gasoline with no ethanol added (E0). In the absence of the actions announced by President Biden today, most fuel retailers would have been forced to stop selling lower-cost E15 to their customers on June 1, as a result of an oil industry lawsuit.
President Biden also announced today that his administration will soon disburse long-awaited COVID-19 emergency relief funding to renewable fuel producers and increase investments in low-carbon sustainable aviation fuel (SAF) technologies.
“The American ethanol industry is deeply appreciative of President Biden’s efforts to embrace domestic renewable fuels as both an immediate answer to high pump prices and a long-term solution for decarbonizing the transportation sector,” Cooper said. “We thank the President for honoring his commitment to the biofuels industry, and we look forward to working with his administration to implement the commonsense plans announced today.”