John Shimkus: “in July of this year, the President signed into law the Energy Policy Act of 2005, which enacted the first- ever…”

“in July of this year, the President signed into law the Energy Policy Act of 2005, which enacted the first- ever renewable fuel standard in order for a portion of our Nation's fuel supply to be provided by renewable domestic fuels like ethanol from corn and biodiesel made from soybeans. This provision is an example of public policy that is moving in the right direction. For example, E-85, a blend of 85 percent ethanol fuel, is becoming more and more available in the Midwest and it costs less at the pump. Just this week in my southern Illinois district, E-85 was on average 22 cents cheaper than regular gasoline at the pump. In some cases, E-85 stayed below $2 per gallon. The expanded use of renewable fuels like E-85 helps stretch domestic oil supply and decrease our reliance on foreign imports of oil. As we all know, no crude oil refineries have been built in the United States since 1976. During that time, close to 100 ethanol refineries have been built. It is my hope that this growth continues to happen. Renewable fuels are an environmentally friendly, domestic alternative fuel source that we can utilize to increase U.S. supply and decrease our reliance on foreign imports of oil. ____________________”