On the recordJanuary 25, 2011
I rise today to discuss the great importance of expanding the production and availability of biofuels, and the significant impact that biofuels continue to have on reducing our overall consumption of petroleum in the United States. Our national energy situation continues to deteriorate. Because we import 60 percent of the petroleum we consume, our economy faces a constant threat from volatile petroleum prices as well as significant amounts of American wealth being transferred to foreign producers. Because more than two-thirds of our petroleum supply is consumed by our transportation sector, we can improve this situation by expanding the production and use of alternatives to petroleum-derived fuels. Domestic biofuels have been by far our most successful alternative. Biofuels already displace close to 10 percent of our gasoline supplies, and they have the potential to make significantly larger contributions in the years ahead. Expanding domestic biofuels production and use also will support economic recovery by creating jobs in the areas of feedstock production and delivery, fuels processing in bio refineries, and biofuels marketing.
