On Tuesday, June 22, the Senate Agriculture Subcommittee on Rural Development and Energy held a hearing entitled “Renewable Energy – Growth and Opportunities for our Rural Economies.” Below are several key takeaways.
- Subcommittee Chair Tina Smith (D-MN) said low-carbon fuels like biodiesel and ethanol are getting greener each year and becoming more economical and viable. She said that if carbon capture/storage is added to their production facilities, the carbon footprint can be driven down further and create more job opportunities in rural America.
- Growth Energy CEO Emily Skor expressed concern over recent reports that the Biden administration is planning to lower RFS blending targets. She explained that there is no correlation between the price of RFS compliance and refinery profits, something that has been confirmed by both experts and the EPA on multiple occasions. Skor added that a weakened RFS would backtrack on explicit promises President Biden made on the campaign trail.
- Sen. Amy Klobuchar (D-MN) said she was disappointed to hear reports about the administration potentially weakening the RFS. Shannon Schlect, executive director of the Agricultural Utilization Research Institute, agreed and said the RFS is critical to the renewable fuel industry and underpins many rural jobs and economies.
- Skor called biofuels critical to meeting carbon-reduction goals today and into the future. She said there is no path to net-zero emissions by 2050 without biofuels. Skor explained that she supports a low-carbon fuel standard, provided its technology neutral because all options need to be on the table to deliver on climate goals.