Ethanol officials and petroleum industry officials butted heads at a House Energy Committee hearing this week. The panel is looking at the effectiveness of the Renewable Fuel Standard. Advanced Biofuels Business Council Executive Director Brooke Coleman says the RFS shouldn’t be adjusted as it continues to work well and fosters investment and innovation.
Renewable Fuels Association President Bob Dinneen agrees the RFS is working as intended and what the oil interests are concerned about are losing their market share.
Coleman says several of the committee members are backing legislation to cap the RFS but the chances of that legislation being approved isn’t good.
Oil representatives told the committee that the RFS has outlived its effectiveness and can’t reach statutory targets, raises food prices and harms small business.
