Presentation Transcript

1. Renewable Fuels: Revived and ReadyIowa Renewable Fuels SummitJanuary 24, 2012

2. OPEN FOR BUSINESS
3. Iowa’s Ethanol Industry 41 operating ethanol plants with capacity of 3.7 billion gallons 1.35 billion bushels of Iowa corn 57% of Iowa’s 2.36 billion bushel 2011 corn crop ~30% of nation’s ethanol production
4. Iowa’s Biodiesel Industry 13 biodiesel plants with capacity of nearly 320 million gallons 10 operated in 2011, producing 169 million gallons Operating at 264 mil gal rate (annualized) in Dec.
5. Renewable Fuels are Under Attack
6. The increased use of ethanol reduced wholesale gasoline prices by an average of $0.89 per gallon in 2010 Larger Impact in Midwest: Consumers saved an average of $1.37 per gallon in 2010
7. Big Oil Fights Attempts to Prevent Competition Big Oil sued the EPA to prevent the sale of E15. Big Oil sued the EPA to rollback the 2011 federal biodiesel RFS requirement. Big Oil hypocritically lobbied to preserve its federal tax breaks as “necessary” while urging Congress to end incentives for renewable fuels. Big Oil lobbied Congress to use an appropriations gimmick to ban E15 from entering the marketplace.
8. Big Oil Fights Attempts to Prevent Competition, cont’d. Big Oil uses its petroleum distribution monopoly to limit E15 summertime blending. Big Oil bars its branded retailers from selling higher ethanol blends like E15 or E85 under the canopy. Big Oil urged the EPA to adopt an absurdly anti-E15 mandatory pump label. Big Oil opposes country-of-origin labeling for gasoline.
9. Investopedia.com: “No other investment category in America can compete with the smorgasbord of tax breaks that are available to the oil and gas industry.”
10. Federal Support for Fuels
11. RFS2 Volumes
12. In Iowa alone…
13. New Iowa Tax Incentives Effective July 1, 2011 Nation’s First E15 Tax Credit Revised Iowa RFS Schedule Retailer Misfueling Liability Relief Additional Infrastructure Grant Funding
14. America’s Net Dependence on Foreign Oil
15. Web-Site & Contact Information www.IowaRFA.org 515-252-6249 mshaw@IowaRFA.org 5505 NW 88th Street Phone (515) 252-6249 Johnston, IA USA Fax (515) 225-0781 50131-2948 E-mail info@iowarfa.org