OLSON APPLAUDS SENATE BILL TO REPEAL RFS MANDATE
Washington, DC- Rep. Pete Olson (TX-22) today issued the following statement commending Senators John Barrasso (R-WY), Mark Pryor (D-AR) and Pat Toomey (R-PA) for introducing S. 1195, a bipartisan Senate effort to repeal the Renewable Fuel Standard (RFS):
"The RFS has always been nothing more than a market distorting boondoggle. Last year, despite the worst drought in 50 years, the U.S. was forced to divert about 40% of its corn crop into our gas tanks to satisfy the RFSâ€”spiking corn and food prices across the country. Some reports indicate that as a result of the RFS, the average American family spent an extra $2,000 on groceries last year. It's time to bring sanity back to fuel markets and repeal this mandate today.
"I will continue to highlight the need for full repeal and urge my colleagues in the House to join me in supporting H.R. 1461, the Renewable Fuel Standard Elimination Act introduced by my colleague, Rep. Bob Goodlatte (R-VA).
In 2005, Congress established the RFS effectively requiring refiners to blend increasing volumes of biofuels (e.g., corn ethanol) into the nationâ€™s gasoline supplies. In 2007, Congress expanded the RFS effectively requiring refiners to blend ever higher volumes of biofuels and advanced biofuels (e.g., cellulosic ethanol) into the nationâ€™s gasoline and diesel fuel supplies no matter market conditions.
Media Contact: Melissa Kelly