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How to subscribeSenate Passes Energy Bill
After stripping the bill of a $21 billion tax package, he U.S. Senate has passed an amended energy bill that includes an expansion of the Renewable Fuels Standard to 36 billion gallons of annual renewable fuel use by 2022. The bill now goes back to the House of Representatives for approval before it can be sent to the president for his signature. Removal of the tax increases for oil companies should remove the threat of a presidential veto.
Following Senate passage of this energy bill, Renewable Fuels Association President Bob Dinneen issued the following statement:
“The Senate has taken a big step forward in making this nation more energy stable and environmentally sustainable. By passing energy legislation that couples the benefits of renewable fuels with conservation measures like higher vehicle efficiencies, Congress will deliver to the American people the map to chart a new energy direction in this country.
“For too long, traditional energy companies have told us everything we can’t do with respect to our energy future. This bill, and the Renewable Fuels Standard specifically, is an affirmation of what is possible when we work together to achieve a common goal. By relying more heavily on domestically produced renewable fuels, including next generation technologies such as cellulosic ethanol, we can begin the hard work necessary to mitigate the impact of global climate changes, reduce our dependence on foreign oil, and leave a more stable and sustainable future for generations that follow.�