Wednesday, January 14, 2009

Obama to make Determination on Ethanol Future

President-Elect Obama campaigned heavily on developing alternative fuels to gasoline and could very early in his administration need to make a decision on what direction the industry may head in these regards. The normal detractors such as the Environmental Working Group are out with their latest informative report:

The corn ethanol industry sucks up $2 out of every $3 the government spends to support renewable energy, according to a new report from the Environmental Working Group (EWG) based on data from the Energy Information Administration.

The Obama administration should take a “hard, clear-eyed look at how we are investing in renewable energy,” said Craig Cox, EWG’s Midwest vice president.

But the Renewable Fuels Association has some advice for the new Administration:

“Last week, at the request of President-elect Obama’s transition team, the Renewable Fuels Association submitted discussion ideas for consideration as the president-elect formulates an economic stimulus package partially designed to create green jobs and spur the green economy. Some have misconstrued this communication as a request for federal assistance or a bailout. To the contrary, the RFA recognizes that by stimulating increased production, innovation, and investment in new technologies and cellulosic feedstocks, a revitalized renewable fuels industry can help bail out the flagging US economy and lessen America’s dependence on foreign oil."

So it is fair to say that the debate has just begun...

No comments: