(March 31, 2010)  Washington – President Obama today will announce new energy policies heavy on domestic production of traditional energy sources. While these energy sources should be part of the mix, addressing America’s energy problems will require a 21st century approach.

In a statement released prior to attending the President’s remarks, Renewable Fuels Association President Bob Dinneen said this:

“Relying on 20th century energy sources to address 21st century challenges will not solve the problem. America’s energy policy must be focused on renewable sources that have great potential for innovation and improvement. Renewable fuels, such as ethanol produced from a variety of feedstocks, hold great promise to reduce our need for imported oil, address climate change concerns, and create enduring economic opportunity. Oil and other fossil fuels are finite resources. While we cannot ignore their contributions, neither can we ignore the reality that reliance on them is simply unsustainable.”

American ethanol production is already contributing to America’s energy security. The use of more than 10.6 billion gallons of ethanol in 2009 reduced oil imports by 364 million barrels – the equivalent of 10 months supply from Venezuela. Likewise, this production helped support nearly 400,000 jobs all across America that cannot be outsourced. The continued expansion of ethanol production along with the commercialization of new technologies will only improve on these benefits.

In February, the Obama Administration released a biofuels roadmap that appropriately recognized the importance of the existing industry and the promise of emerging technologies. This Administration could take some concrete steps that would ensure the goals of that roadmap are achieved, including:

• Allowing for up to 15% ethanol to be blended into gasoline
• Urge congressional action to extend critical renewable fuel tax incentives
• Improve loan guarantee programs to better serve cellulosic and other next generation biofuel technologies

If able, Dinneen will be providing updates from the event via Twitter. Follow him at www.twitter.com/ethanolbob.