Statement from POET CEO, Jeff Broin, on DOE's Report on the Use of Higher Ethanol Blends
Tuesday, October 7, 2008
SIOUX FALLS, S.D. – Jeff Broin, CEO of POET, the world’s largest ethanol producer, released the following statement in response to the U.S. Department of Energy’s new report on the use of higher ethanol blends in cars:
“This report underscores that increasing our use of ethanol can expand America's energy independence today with no change in car performance or maintenance. This comes as no surprise, since Brazil has been using higher blends of ethanol in U.S. made autos for years. By increasing the base blend to 20 percent, we could avoid importing an additional 15.5 billion gallons of foreign oil, keeping our dollars here at home. The increase in ethanol production could also create 155,000-310,000 new jobs, according to the Department of Energy’s estimates.
“Ethanol is America’s best renewable fuel, available and affordable now. It is high-tech and homegrown and we are on the verge of breakthroughs like cellulosic ethanol that will make ethanol even cleaner and greener. This means we will be able to meet the higher demand for ethanol by using sustainable feedstock and cut greenhouse gas emissions by up to 85% compared to gasoline. Increasing the base blend will ensure that we have a market for cellulosic ethanol.
“We strongly urge the Environmental Protection Agency to consider the findings in the DOE report and take the necessary action to move toward adopting a higher base blend of ethanol as soon as possible.
“American innovation has always led us to a brighter future. As our scientific advances continue, ethanol will keep serving as a sustainable and effective energy solution for the world.”
The largest ethanol producer in the world according to the Renewable Fuels Association, POET is an established leader in the biorefining industry through project development, design and construction, research and development, plant management, and marketing. The 20-year old company currently operates 25 production facilities in the United States with one more under construction. The company produces and markets more than 1.4 billion gallons of ethanol and 350 million tons of distillers grains annually. For more information, go to http://www.poet.com.
# # #