Klobuchar, Johnson Introduce Legislation to Promote Domestic Energy Production

Press Release

U.S. Senators Amy Klobuchar (D-MN) and Tim Johnson (D-SD) introduced legislation today that focuses on developing and deploying safe, reliable domestically grown and produced energy. The Securing America's Future with Energy and Sustainable Technologies (SAFEST) Act establishes strong renewable energy and energy-efficiency standards, incentives for developing biofuels and biofuel infrastructure, and targets for the availability of advanced vehicle technologies.

"The strength of our nation is tied to the strength of our energy economy," Klobuchar said. "The United States has the ability to be the global leader in energy because of the ingenuity of our farmers and manufacturers. At a time of rising gas prices, this bill will provide incentives that can help us utilize more homegrown biofuels, strengthen our homegrown energy economy in Minnesota, and secure our energy future."

"This legislation invests in jobs on the farm and in manufacturing in America. It is the path to our energy future by investing in a range of renewable energy from biofuels to wind and importantly will provide incentives for infrastructure for renewables," said Johnson. "This will prevent us going from importing oil to importing wind turbines and electric cars."

The Klobuchar-Johnson legislation would develop American homegrown-energy technologies by providing long-term incentives for the development of renewable fuels, renewable electricity, and increased energy efficiency. Specifically, the legislation would establish:
New incentives for biofuels infrastructure and deployment

A more cost-effective extension of tax credits for ethanol and biodiesel that reward efficient producers

A strong renewable electricity standard of 25 percent renewable energy by 2025

A strong energy-efficiency resource standard (1 percent per year)

Targets for the availability of advanced vehicle technologies including hybrid, electric, and flex-fuel vehicles.

In addition to reducing U.S. dependence on foreign oil, the bill would generate a positive economic impact. The American Council for an Energy Efficient Economy estimates that the national energy-efficiency resource standard in the bill would create energy bill savings of more than $150 billion by 2020 and save enough energy to power approximately one-third of all households in the United States. Recent studies indicate that the renewable electricity standard in the bill could create more than 250,000 new jobs and reduce greenhouse gas emissions by up to 10 percent.

The domestic biofuels industry employs 500,000 farmers, producers, and processors, and it displaces about five percent of the U.S. demand for oil. The new cost-effective changes to the bioefuels tax credits and new provisions for biofuels infrastructure included in the bill have the potential to help create jobs, provide an economic boost to rural communities, and significantly reduce U.S. dependence on foreign oil.

The SAFEST bill has been endorsed by the National Farmers Union, Growth Energy, National Association of Energy Service Companies, American Soybean Association, Minnesota Farmers Union, Minnesota Corn Growers Association, and the National Biodiesel Board.

Source