Tom Harkin: “when we talk about moving toward energy independence in this country, we are really speaking to the issue of reducing…”

“when we talk about moving toward energy independence in this country, we are really speaking to the issue of reducing America's dangerous dependence on imported oil. Our addiction to oil is most acute in the U.S. transportation sector where a stunning ninety-seven percent of our fuel comes from petroleum--97 percent. In the electricity sector we have largely turned away from oil but not so in transportation. Fortunately a growing percentage of transportation energy is now coming from clean, domestically-produced renewable fuels like ethanol and biodiesel. With the nearly 8-billion-gallon Renewable Fuels Standard now the law of the land, renewable fuels will supply 5 percent of the energy for our passenger vehicles by 2012, perhaps more. These home-grown, environmentally friendly alternatives made from corn, soybeans and other sources of biomass are helping to improve air quality, reduce greenhouse gas emissions and enhance the rural economy while substantially reducing dependence on foreign oil. The best part of this trend is that the health, community, and domestic security benefits of renewable fuels come with the bonus of price savings at the pump. Ethanol prices in this country can be as much as 70 cents a gallon less than regular gasoline. Drivers in my State of Iowa are saving as much as 10 cents a gallon on E10--a blend of just 10 percent ethanol and 90 percent gasoline. This is a savings of about $100 a year for a typical family.…”