Graves Praises Ethanol Increase in Energy Bill
Graves Praises Ethanol Increase in Energy Bill
Thursday, July 28, 2005
National Energy Policy on Way to Becoming Law
(Washington, D.C) U.S. Congressman Sam Graves helped pass a sweeping Energy bill today that for the first time in over 30 years establishes a national energy policy. The goal of the energy policy is to provide a more affordable supply of energy and reduce the country's dependence on foreign supplies. According to the Energy Information Administration, the U.S. now gets 62% of its oil from foreign sources and that number is expected to rise to 75% by 2010.
"Energy prices are skyrocketing and it's the consumers who are being squeezed at the pump," said Graves. "Depending on foreign sources of oil is both dangerous and expensive; this legislation is long overdue."
The House passed the Energy Policy Act of 2005 on a bipartisan 275-156 vote. The bill provides tax incentives for cleaner fuels while helping developing power from wind, hydro, biomass and fuel cells. Graves praised the bill.
"This bill is a triple hit," said Graves. "It's good for consumers because it will provide them with reliable and affordable energy. It's good for our environment because it invests in cleaner fuels like ethanol. And it's good for farmers because it will create more jobs."
The bill would add an additional seven and half billion gallons per year of ethanol and other renewable fuels to U.S gasoline supplies by 2012. The Renewable Fuels Association reports that Missouri has the capacity to provide 100 million gallons of ethanol a year. Ethanol is a cleaner burning fuel than gasoline and one of its primary ingredients, corn, is grown on farms right here in Missouri.
"With these ethanol provisions, Missouri will now play a central role in making America more energy independent," Graves said. "I would rather get my energy from Missouri than Saudi Arabia."
Congress has been working on an energy bill since 2001. It is expected to be approved by the Senate this week and signed into law by the President.
http://www.house.gov/graves/newsroom/072805g.htm