Skor Highlights Biofuels’ Ability to Drive Economic Growth at Senate Subcommittee Hearing

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June 22, 2021

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(Growth Energy) Today, Growth Energy CEO Emily Skor participated in the U.S. Senate Committee on Agriculture, Nutrition and Forestry Subcommittee on Rural Development and Energy hearing titled “Renewable Energy – Growth and Opportunities for our Rural Economies”. In the hearing, Skor spoke on biofuels’ ability to drive economic growth using data from a new Growth Energy study, achieve our nation’s carbon reduction goals, and provide critical jobs in rural America.

“Biofuels like ethanol are critical to meeting carbon reduction goals today and well into the future. In fact, studies show there is no path to net-zero emissions by 2050 without biofuels,” said Emily Skor, CEO of Growth Energy. “The economic benefits of increased biofuel use are clear…Growing the share of renewable biofuels in America’s fuel supply is crucial to achieving net-zero emissions and promoting high paying, clean energy jobs in rural America.”

The new Growth Energy study conducted by ABF Economics shows that nationwide adoption of E15, a high-performance 15 percent biofuel blend, could offer significant economic benefits to consumers and workers alike. Authored by John M. Urbanchuk, managing partner of ABF Economics, the economic impact report indicates that nationwide access to E15 could add billions to the U.S. economy, generate greater household income, and save consumers money. Specifically, the data show that a nationwide transition to E15 would:

Add $17.8 billion to the U.S. GDP,
Support an additional 182,600 jobs,
Generate $10.5 billion in new household income, and
Save consumers $12.2 billion in fuel costs.

“Nationwide use of E15 will expand ethanol production and require a substantial increase in new production capacity relative to current E10 use,” the study notes. “This expansion also will stimulate demand for agricultural feedstocks that will directly benefit farm income. The economic benefits from nationwide E15 use are significant increases in GDP, jobs supported in all sectors of the economy, household income and tax revenue.”

These economic benefits would coincide with well-established environmental advantages offered by E15. A previous study released by Growth Energy demonstrated that a nationwide transition from E10 to E15 would lower greenhouse gas emissions by 17.62 million tons annually – the equivalent of removing approximately 3.85 million vehicles from the road.

E15 is already popular at nearly 2,500 stations across 30 states, and drivers have chosen the biofuel blend to fuel more than 21 billion miles. E15 is approved for cars 2001 and newer – more than 95 percent of cars on the road.

Read the full ABF report here.

Read Skor’s oral testimony as prepared for delivery here.

Read Skor’s written testimony submitted to the subcommittee here. READ MORE

SUBCOMMITTEE HEARING: Renewable Energy - Growth and Opportunities for our Rural Economies (U.S. Senate Committe on Agriculture; includes VIDEO)

Mr. Shannon Schlecht
Executive Director

Agricultural Utilization Research Institute

Crookston, MN
- Download Testimony
The Honorable Katie Sieben
Chairwoman

Minnesota Public Utilities Commission

St. Paul, MN
- Download Testimony
Mrs. Emily Skor
Chief Executive Officer

Growth Energy

Washington, DC
- Download Testimony
Mr. Bill Cherrier
Executive Vice President and CEO

Central Iowa Power Cooperative

Des Moines, IA
- Download Testimony
Mr. Matthew Mancuso
Dean, Industrial Technology

Iowa Western Community College

Council Bluffs, IA
- Download Testimony

Economic Impact of Nationwide E15 Use (Agriculture and Biofuels Consulting, LLP “ABF Economics”)

Growth Energy Thanks U.S. House Republicans for Standing up for the RFS, Rural America (Growth Energy)

Growth Energy Praises Bicameral Democrat Support of RFS, Certainty for Biofuels (Growth Energy)

Biofuels industry urging ‘technology neutral’ approach to cutting carbon emissions (Radio Iowa)

HEARING CONSIDERS BENEFITS OF RENEWABLE ENERGY IN RURAL AMERICA (Brownfield Ag News)

Biofuels Industry Urges ‘Technology Neutral’ Approach To Reducing Carbon Emissions (KIWA Radio)

Ernst, Minnesota colleagues push for biofuels support, end of waivers (Iowa Capital Dispatch)

Skor highlights ability of biofuels to drive economic growth (Ethanol Producer Magazine)

Excerpt from Growth Energy: Emily Skor, CEO of Growth Energy, thanked the members standing up for American farmers and biofuels producers:

“As soon as reports circulated of potential handouts to the oil industry, our biofuels champions immediately raised alarm on behalf of rural America,” said Skor. “Not only would reducing biofuel blending obligations be a reversal of this administration’s repeated and unequivocal promises to support rural clean energy jobs and uphold the RFS, it would also backtrack on the administration’s climate change efforts, of which our farmers have made a strong effort to be a part.

“We thank the 20 members who signed this letter, and we hope that the loud voices of rural champions on both sides of the aisle over the past week will encourage President Biden to halt any potential deal to reduce biofuel blending.” Read the full letter here. READ MORE

Excerpt from Growth Energy: Democrat members of the U.S. House of Representatives and the U.S. Senate took action together on behalf of farmers and biofuels producers across the country. Following reports that the Biden Administration is considering reducing biofuel blending obligations to appease oil refiners, 16 Members of Congress sent a letter to Michael Regan, Administrator of the U.S. Environmental Protection Agency (EPA) and Brian Deese, Director of the National Economic Council, urging the administration to reject granting handouts to the oil industry. In the following statement, Growth Energy CEO Emily Skor praised the Members’ united front:

“The reported handouts to oil companies looking to avoid their biofuel blending obligations would be a complete reversal of the Biden Administration’s repeated and unequivocal promises to support clean energy jobs and uphold the integrity of the Renewable Fuel Standard,” said Skor. “Giving in to oil refiners’ repeated claims of economic strain would also backtrack our nation’s progress of moving toward a cleaner energy transportation future through higher biofuel blends.

“This bicameral letter from Democratic members who represent a wide constituency, reflects broad national support of cleaner fuel choices. We thank the 16 Members of the House and Senate for backing our industry and will continue pushing for Administrator Regan and Director Deese to stand with clean, homegrown biofuels.” Read the full letter here. READ MORE

Excerpt from Brownfield Ag News: US Senator Tina Smith is chair of the Rural Development and Energy Subcommittee.

...

The Minnesota Democrat uses a national low carbon fuel standard and the development and expanded use of biofuels as examples.

U.S. Senator Joni Ernst is ranking member of the subcommittee.

“As we begin preliminary discussions about the 2023 Farm Bill, it’s important that we look at programs under our subcommittee’s jurisdiction to determine what’s working and what may need improvement,” she says. “We must continue exploring improvements in our programs to drive economic growth throughout rural America and that is why today’s hearing is so timely and important.”

The Iowa Republican says the state is a national leader in renewable energy production as the top ethanol and biodiesel producer and the second largest producer of wind energy.

Growth Energy CEO Emily Skor spoke about the benefits of renewable ethanol for rural economies and the environment.

“Biofuels like ethanol are critical to meeting carbon reduction goals today and well into the future,” she says. “In fact, studies show there is no path to net zero emissions by 2050 without biofuels.”

Skor says Growth Energy represents over half of US ethanol production, including 92 producer plants and 91 businesses that support biofuel production.

Katie Sieben, chairwoman of the Minnesota Public Utilities Commission, says transmission investments are desperately needed across the Midwest.

“New transmission can maximize the value of low-cost, renewable energy and create living wage jobs that are essential to ensuring Americans have reliable power,” she says. READ MORE