Energy Independence and Security Act of 2007
Posted By RichC on December 19, 2007
The U.S. House of Representatives passed the Energy Independence and Security Act of 2007 by a 314-100 margin which is the same legislation that the Senate passed last week. It now moves to the desk of President Bush who has indicated that he will sign it. The promising legislation looks good for the expansion of alternative renewable fuels such as biodiesel. According to Joe Jobe of the Nation Biodiesel Board (NBB), the new legislation will “help America depend less on foreign oil and more on clean-burning, domestically produced biodiesel.” He commented that “Biodiesel producers across America stand ready to meet the aggressive renewable goals provided for in this bill.”
The bill expands the Renewable Fuels Standard (RFS) that will legislate a larger renewable requirement be included in the diesel fuel pool. It increases the minimum requirement from 500 million gallons in 2009 to 1 billion gallons in 2012. These aggressive numbers will create a solid market for the business of biodiesel and better secure the investment risk in infrastructure required to produce these millions of more gallons of biodiesel. The bill also includes a requirement for fuel labeling which increase both consumer awareness and bolster their confidence in the quality of U.S. renewable fuels.
See NBB press release.
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