Romney Energy Plan Supports U.S. Ethanol Mandate

By CnAgri2012-08-27 19:18:58 Print

Republican presidential candidate Mitt Romney released an energy plan last week that supports Washington's ethanol quota, a mandate several U.S. governors want to suspend as the worst drought in more than 50 years sends corn prices to record levels.

Reuters reports that Romney's energy plan would "support increased market penetration and competition among energy sources by maintaining the RFS and eliminating regulatory barriers" to diversify the power grid, the fuel system and vehicle fleets. The plan did not detail how Romney, a former Massachusetts governor, would support the ethanol mandate.

President Barack Obama has also been a strong supporter of ethanol, which provides jobs in Iowa and other swing states that will be central in the Nov. 6 presidential election.

The ethanol industry applauded Romney's plan. "By working to remove barriers to market access for renewable fuels, as Governor Romney suggests, America can help spur an economic recovery while securing our energy future," said Bob Dineen, the CEO of the Renewable Fuels Association.

The five-year old Renewable Fuels Standard, or RFS, signed into law by then-President George W. Bush, requires more than 13 billion gallons of grain-based ethanol to be blended into gasoline this year and more in coming years.