Tom Harkin: “this is, indeed, an exciting time and moment. We have an 8-billion-gallon national renewable fuel standard that is going…”

“this is, indeed, an exciting time and moment. We have an 8-billion-gallon national renewable fuel standard that is going to be part of the Senate Energy bill. A previous bill I sponsored with Senator Lugar and 18 other Senators serves as much of the basis for what we now have before us. This amendment takes us a bold step closer to improving the Nation's energy security, domestic and farm economy, and our environment. To say we have a growing problem with energy in this country is an understatement. Today, about 97 percent of our transportation fuel comes from oil, two-thirds of that from foreign sources. This excessive dependence on petroleum undermines our national security, as we all know, and it reeks havoc on consumers who are now dealing with record- high gasoline prices. Our policy today costs us jobs. There are 27,000 lost U.S. jobs for every $1 billion in imported oil. Our present policy damages our environment with fully one-third of the greenhouse gases now coming from vehicle emissions alone. And the truth is, the problem is not going away, it is only getting worse. Right now we are importing 60 percent of our oil from foreign countries. That percent is expected to increase, not decrease, to about 70 percent by 2025. According to the Natural Resources Defense Council, America spends $200,000 per minute on foreign oil, or $13 million an hour. And more than $25 billion goes to the Persian Gulf imports alone.…”