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GROWTH ENERGY APPLAUDS SENATE RESPONSE TO GLOBAL ENERGY CRISIS
Source: Growth Energy news release

Washington, D.C. - Today, Growth Energy CEO Emily Skor applauded a bipartisan group of senators led by Senators Joni Ernst (R-Iowa) and Amy Klobuchar (D-Minn.) for introducing the Home Front Energy Independence Act.

In response to rising gas prices and the global energy crisis due to the war in Ukraine, this legislation would make the sale of E15 year-round permanent, create a tax credit for higher biofuel blends, streamline E15 labeling, provide funding for E15 infrastructure, extend the biodiesel tax credit for three more years, and ban imports of Russian petroleum products.

Senators Chuck Grassley (R-Iowa), Tammy Duckworth (D-Ill.), Tammy Baldwin (D-Wis.), Roger Marshall (R-Kan.), and Deb Fischer (R-Neb.) also cosponsored the legislation.

"Our thoughts are with the people of Ukraine and we stand in solidarity as they defend their independence and their democracy," said Skor. "Over the past few weeks, we've seen significant market uncertainty given the turmoil in the region, impacting commodities across the board - oil spiking to well over $100 a barrel and gas prices rising to $4 or more a gallon in some areas.

"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, Grassley, and Klobuchar 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."

Since the Renewable Fuel Standard was enacted in 2005, America's crude oil imports have dropped almost 50 percent. Homegrown, plant-based ethanol displaces the gasoline produced from more than 700 million barrels of oil every year.


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