Summer time E15
I am Bob Larson. The ethanol industry says President Biden’s announcement that he will restore summer sales of E15 should help dampen the spike in gasoline prices.
Renewable Fuels Association head Geoff Cooper says they’ve been lobbying the White House about this for months…
COOPER… “Ethanol is cheaper than gasoline today at the wholesale level, it’s been selling for 70 to 80 cents a gallon less than gasoline for the past few weeks, and so common sense tells you that when you add more of a lower cost fuel, the end result, the cost of the fuel to the consumer, is going to be reduced.
Cooper says nationwide access to E15 could save drivers more than $12 billion a year…
COOPER… “This $12 billion figure is based on the assumption that E15 will replace E10 universally in the market. We know it won’t happen overnight, it won’t happen this summer…but what we do know is that for drivers who buy E15 today, they in many cases benefit at a rebate of 25 or 30 cents per gallon.
But the odds of EXTENDING Biden’s emergency summer waiver…
COOPER…” The White House today, in this announcement, alludes to the fact that it is interacting with a group of states, primarily Midwestern states, on a long-term permanent solution that will hopefully be in place before the summer of 2023, and would avoid the need for any sort of emergency waivers at this stage.
2,600 gas stations in 31 states now sell E15, approved for 96% of light vehicles.
Biden also announced that his administration would soon provide long-awaited COVID-19 emergency relief funding to producers of renewable fuels and increase investment in sustainable, low-carbon aviation technologies.