WASHINGTON, Jan. 23, 2012-American ethanol production is creating jobs, energizing rural economies, reducing oil imports, and helping all consumers save money at the pump, the Renewable Fuels Association said Friday in a letter to President Obama ahead of the State of Union address Tuesday night.
Dinneen called on the president for action that would ensure that “the integrity and the intent of the Renewable Fuel Standard (RFS) is maintained.” He said the RFS is “the only nationwide domestic energy strategy that is directly reducing imports of oil while also creating permanent U.S. jobs and economic opportunities.” He also called for long-term tax policies that allow advanced biofuel technologies to raise capital and begin production, including extensions of both the Production Tax Credit for cellulosic ethanol and the Accelerated Depreciation Allowance for cellulosic biorefineries. Dinneen also urged Obama to support an end to subsidies and other tax benefits enjoyed by the fossil fuels industry.
To download and read the entire letter, click HERE.
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