On the first day of the 110th Congress, Senator Dick Lugar (R-IN) and I introduced the Biofuels Security Act, legislation to increase American's access to renewable fuels like ethanol and biodiesel. In tonight's State of the Union address, the President called for much the same thing. That is why I invited Craig Brownlee, a farmer and ethanol plan investor from Emmetsburg, Iowa to join me in Washington to watch the President unveil his plan to wean our country off its addiction to foreign oil.
During the President's speech, no one was applauding louder than I was when he announced his new plan for ramping up production of ethanol and other renewable fuels. I welcome him to this ambitious fight. The proposal, which calls for a 30 billion gallon increase in America's use of renewable fuels, is a bold and innovative plan. But now the rubber needs to meet the road. If the President is truly serious about enacting this ambitious plan, he will need to include the necessary funding in his budget request early next month.
The bill I've introduced includes a bold renewable fuels standard (RFS). It also calls for increasing the number of gasoline stations that carry blends of 85% ethanol (E85) and directs automakers to increase the number of flex-fuel vehicles in production.
Currently, the United States imports more than 60 percent of its oil, and our consumption continues to increase - further subjecting consumers to the whims of the world oil market. Over sixty percent of the world's oil reserves are held in the Middle East, handcuffing our foreign policy. For too long, we have depended on importing oil to meet our energy needs. This is why the Biofuels Security Act is so significant, and why I hope to work with the President Bush and his administration on this vitally important issue.