Grassley and Ernst Call on Biden to Unleash Iowa Biofuel Immediately as Gas Prices Hit Record High, U.S. Bans Russian Oil
Iowa senators introduce bipartisan legislation to open up the use of clean, American-made renewable fuels that are available right now to replace banned Russian oil
WASHINGTON – As gas prices hit all-time record highs, Sens. Chuck Grassley (R-Iowa) and Joni Ernst (R-Iowa) are calling on
Pres. Joe Biden to unleash Iowa biofuels immediately by supporting their
bipartisan plan to replace banned Russian oil with clean-burning, American-made
renewable fuels that are available right now. The senators’ new bill — the Home
Front Energy Independence Act — puts the ban on Russian oil into law. At
the same time, it couples that ban with opening up biofuel production that’s
grown in Iowa and across America’s heartland. The current excess ethanol
capacity domestically is nearly the same as the amount of Russian gas the U.S.
had been importing: roughly 83 million barrels versus 87 million barrels.
“When traveling around Iowa, you see E-15
being sold for $0.30 to $0.40 cheaper than E-10 – and ethanol has been selling
at around a $1.20 discount to base gasoline. Homegrown Iowa biofuels provide a
quick and clean solution for lowering prices at the pump, and bolstering
production would help us become energy independent once again. Iowa producers
stand ready to meet the moment and ramp up production to lower gas prices for
families across the country,” Grassley
said.
“As gas prices hit record highs for
Americans across the country, it’s never been clearer that energy security is
national security,” Ernst said. “Banning Russian oil was long overdue,
but it’s far past time for President Biden to make good on the promises he made
on the campaign trail to Iowa farmers and producers to support our state’s
biofuel that is American-made, ready, and available to meet our nation’s needs
right away.”
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Grassley and Ernst’s remarks on their new legislation:
Emily Skor, CEO of Growth Energy, said, “The uncertainty of the situation in Ukraine underscores the need for
more homegrown biofuels to displace the oil we import from Russia, reducing our
nation’s dependence on foreign oil and improving our energy security. This bill
by Senators Ernst, Klobuchar, and Grassley if enacted would provide relief for
the rising gas prices families are paying at the pump. We urge the passage of
this legislation to invest in a more energy independent nation through
increasing the use of and access to higher biofuel blends today and the years
ahead.”
Sen. Amy Klobuchar (D-Minn.) is the lead
Democratic sponsor, while Sens. Tammy Duckworth (D-Ill.), Roger Marshall
(R-Kan.), Tammy Baldwin (D-Wis.) and Deb Fischer (R-Neb.) are also cosponsoring
the bill.