WASHINGTON (August 6, 2007) - National Farmers Union commended the House of Representatives today following this weekend's passage of energy legislation that supports several top NFU energy priorities.
The House energy bill (H.R. 3221) includes a national Renewable Electricity Standard (RES) that would require investor-owned electric utilities to produce 15 percent of their electricity from renewable energy sources by 2020. NFU released a report last week that highlights significant increases in jobs, business activity and local tax revenues as a result of enactment of a national RES.
"We've seen the economic benefits increased renewable fuels production provides to rural America. A Renewable Electricity Standard can follow in this path and further develop our nation's wind and bioenergy resources to provide a similar, positive outcome for the countryside," NFU President Tom Buis said.
The final energy package included the Renewable Energy and Energy Conservation Tax Act of 2007, which contained provisions to extend the production tax credit (PTC), extend tax incentives for E85 refueling infrastructure and create a cellulosic ethanol production credit.
"The extension and creation of tax incentives help strengthen the future for renewable energy sources," Buis said.
Other House energy bill highlights:
Continues the biodiesel fuel education program;
Provides loan guarantees for the development of biorefineries and biofuel production plants, adding a provision for consideration of the level of local ownership in determining loan recipients;
Grants to assist in the installation of renewable fuel infrastructure;
Directs a study on the feasibility of a dedicated ethanol pipeline;
Requires a study on the feasibility of blends with ethanol of higher than 10 percent;
Requires a study on the adequacy of railroad transportation of domestically-produced renewable fuels; and
Provides grants for the development of cellulosic ethanol production.
"Rural America is ready, willing and able to become a key player in our nation's energy production," NFU President Tom Buis said. "This bill paves the way for farmers and ranchers to play a significant role in reducing our nation's dependence on foreign energy sources."
The Senate passed their version of energy legislation in late June.