Valero Energy CEO Bill Klesse told the Senate Energy Committee this week that the Renewable Fuel Standard needs to be repealed. That was after he was called to testify on rising gas prices. Valero owns 10 ethanol plants throughout the Midwest including one in Aurora, South Dakota. Company Spokesman Bill Day says the feds need to start over with renewable fuel regulations.
Day says blenders need to be the ones regulated by the renewable fuel standard and not the refiners and that’s one major change his company would like to see.
Valero’s ten ethanol plants currently have the capacity to produce 1.2 billion gallons ethanol a year.