POET applauds objective ruling from EPA on the renewable fuel standard
Company says ruling preserves market for cellulosic ethanol
Thursday, August 07, 2008 - General Press Releases
SIOUX FALLS, S.D. – POET, the world’s largest ethanol producer, praised the Environmental Protection Agency (EPA) for their objective ruling on the Renewable Fuel Standard (RFS).
“For months, special interest groups seeking to defend the energy status quo have attempted to lay all of the blame for rising food costs at the feet of the ethanol industry,” said Rob Skjonsberg, Vice President of Government Affairs for POET. “But the fact of the matter is that virtually every independent study has shown that ethanol’s impact on food prices is minimal while its impact on lowering gas prices is substantial. We applaud the EPA for their objective conclusion. A strong renewable energy policy will continue to bolster the U.S. economy and enhance our national security.”
According to Skjonsberg, the ruling also allows the company to continue to develop cellulosic ethanol. “The RFS gives confidence to companies like ours who are making a sizable investment in cellulosic ethanol. With stability in the marketplace, our industry can do even more to improve the environment and lessen our country’s dependence on foreign oil.
POET, the largest ethanol producer in the world according to the Renewable Fuels Association, 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 23 production facilities in the United States with three more under construction. The company produces and markets more than 1.3 billion gallons of ethanol annually. For more information, go to http://www.poet.com
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