The Renewable Fuel Standard, also known as the RFS, is a commonsense, bipartisan law that calls for the use of homegrown renewable fuels in our transportation fuel supply — weaning us from away foreign oil, promoting cleaner-burning biofuels, and supporting over 400,000 jobs across the country.
Growth in the renewable fuel sector has driven a $500 billion increase in the value of America’s farm assets since 2007 — and encouraged investment in rural communities across the country.
According to the U.S. Departments of Energy and Agriculture, America has enough biomass sources of renewable fuel to replace a third of the country’s gasoline by 2050.
Thanks to the growing use of renewable fuels, in just one year — 2011 — the U.S. saved nearly $50 billion in imported fuel costs.
Oil-company claims that ethanol is bad for engines have been debunked by the U.S. Department of Energy. In fact, since ethanol is a high-octane, high-performance fuel used in professional racing, oil companies have added it to gasoline for decades to raise octane levels, reduce pollution, and make engines run better.
According to the World Bank, the number one cause of higher food prices is rising oil prices – not renewable fuels. Because renewable fuels are less expensive than oil, they help lower the cost of producing and transporting the world’s food supply.