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January 16, 2015
On January 16, Sens. Feinstein (D-CA) and Toomey (R-PA) floated an amendment to the Keystone XL pipeline bill, the ‘Corn Ethanol Mandate Elimination Act of 2015,’ that would remove corn ethanol from the Renewable Fuel Standard (RFS). Sen. Flake (R-AZ) is a co-sponsor. Citing growing food prices and an increasing amount of corn ethanol in the U.S. fuel supply (the RFS caps corn ethanol production at 15 billion gallons), Senator Feinstein commented that, “This bill is a simple and smart modification of the Renewable Fuel Standard program. Once we remove the corn ethanol mandate, the RFS program can finally serve its intended purpose: to support the development of advanced, environmentally friendly biofuels like biodiesel, cellulosic ethanol and other revolutionary fuels.”
Tom Buis, CEO of Growth Energy reacted to the news saying, “This legislation is incredibly shortsighted. Nearly identical legislation has been introduced in the past and has always failed to gain any traction since a majority of Senators understand the importance of homegrown American renewable fuels. This amendment would eviscerate the RFS - the most successful energy policy enacted in the last 40 years. It will continue to keep us addicted to foreign oil and more than anything, it seems like this legislation is appeasing the wishes of Big Oil and Big Food.” Responding to Sen. Feinstein’s assertion that corn ethanol drives up food prices, Buis offered, “the World Bank outlined how crude oil prices are responsible for over 50 percent of the increase in food prices since 2004. Countess studies have shown that oil prices, Wall Street speculators and the high costs of manufacturing, packaging and transportation are the true culprits driving up food prices.”
While President Obama has stated that he will veto a bill that would allow Trans-Canada to build the Keystone XL pipeline, the House passed the bill on January 7. Senate Majority Leader McConnell (R-KY), stated that as leader, he would allow an open amendment process. At least 33 amendments have been offered since discussion began on the Senate floor on Monday. On Jan. 7, the same day the bill passed the House, Office of Management and Budget issued a Statement of Administration Policy which states the White House will veto the Keystone XL legislation, saying it “conflicts with longstanding Executive branch procedures.” It is speculated that the Senate is a few votes shy of the 67 needed to overturn a presidential veto.
For more information see:
Feinstein, Toomey Introduce Amendment to End Corn Ethanol Mandate, Sen. Feinstein
RFS amendment would set U.S. energy agenda back decades, Ethanol Producer
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