Biofuels Council Urges Administration to Stay the Course on RFS

By CnAgri2012-08-31 06:50:53 Print

The Biofuels Producers Coordinating Council urged President Barack Obama 'to stay the course on the RFS, which is the cornerstone of our efforts to reduce foreign oil dependence and create jobs and economic growth across America.'

In a letter to the President delivered , the group wrote:

"We understand that the Administration will be reviewing a range of options for providing relief to those impacted by the drought. With this deliberation in mind, we are writing to caution against granting a waiver for the federal Renewable Fuel Standard (RFS). A number of groups and some governors seem to believe that the RFS is a substantial part of the equation when it comes to grain prices, and waiving the program this year or next will ease the impact of the drought on consumers. There is substantial evidence to the contrary."

The letter also said waiving the RFS will have a minimal impact on grain prices; weaken the U.S. commitment to renewable fuels will increase gas prices; and that altering the RFS will chill investment in advanced biofuels.