The Senate Banking Committee has defeated an amendment that would have eliminate corn-ethanol blending targets under the renewable fuel standard (RFS).
The amendment introduced by Sen. Pat Toomey, R-Penn., was defeated Oct. 1 by a vote of 7-15. Toomey attempted to add the American Crude Oil Export Equity Act which would lift the U.S.&rsquo;s ban on oil exports.
&ldquo;It is no surprise that Senator Toomey&rsquo;s amendment failed &ndash; it never had a chance of passing,&rdquo; said Tom Buis, Growth Energy CEO. &ldquo;Similar to legislation he has introduced before, it did not gain any traction and failed because this legislation only restricts consumer choice and attempts to dismantle a successful American industry that is creating jobs, improving our environment and reducing our dependence on foreign oil.
&ldquo;The simple fact is that the RFS has bipartisan support and it has been the most successful energy legislation this nation has enacted in over 40 years.&rdquo;
The Renewable Fuels Association said that consumers can breathe a sigh of relief when they fill up at the gas pump because the defeat of the amendment ensures that ethanol will remain the No. 1 source of renewable fuel in the world, said Bob Dinnen, RFA president and CEO.
&ldquo;The committee understood the writing is on the wall when it comes to the RFS, and that legislative proposals that seek to purportedly &ldquo;fix&rdquo; the statute are nothing more than political gamesmanship. &ldquo;When Congress passed the RFS, it did so with the intention of stabilizing and growing the biofuels market.
&ldquo;The committee rightly rejected the amendment by Sen. Toomey because it would have done nothing more than squelched investment and created uncertainty in the market, and thereby would have had a detrimental impact on the energy and economic future of generations to come.&rdquo;
American Coalition for Ethanol Executive Vice President Brian Jennings called it gratifying that a majority of Republicans and Democrats on the Senate Banking Committee want the RFS to remain the law of the land.
&ldquo;Perhaps today&rsquo;s vote can help EPA understand that they need to set blending targets that reflect the statute instead of riding the brakes on the RFS because of so-called E10 blend wall concerns,&rdquo; Jennings said.

An amendment to eliminate corn ethanol blending targets was defeated by the Senate Banking Committee.

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The Senate Banking Committee has defeated an amendment that would have eliminate corn-ethanol blending targets under the RFS. The amendment introduced by Sen. Pat Toomey, R-Penn., was defeated Oct. 1 by a vote of 7-15.

Amendment to eliminate corn-ethanol blending defeated

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