Biden Makes Money Saving Announcement At Iowa Biofuel Plant

Lawmakers and farmers teamed up to push the White House to continue to allow the sale of E15 through the summer.

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Today while visiting POET in Menlo Iowa, Biden announced that he will be allowing the sale of E15 this summer to help combat the spike in oil prices as a response to Russia’s invasion of Ukraine.

The Environmental Protection Agency is planning to issue an emergency waiver to allow E15 gasoline that uses more ethanol from homegrown crops to be sold across the United States. This summer in order to increase the fuel supply

This effort is joining the growing effort to try to lower gas prices including selling crude oil from the U.S. Strategic Petroleum Reserve, says Roll Call.

“Many of the gas stations that are selling it here in Iowa, Illinois, Minnesota, Wisconsin, Pennsylvania, are required to stop selling in the summer. But with this waiver on June one, you're not going to show up at your local gas station and see a bag over the pump that has the cheapest gas.

During the summer months, from June 1 through September 15, the sale of E15 is restricted due to its ground-level ozone pollution.

In Biden’s speech, he announced his push to expand biofuel infrastructure.

Even though a 15 is only available in a few 1000 pumps today, we're investing more than $100 million to build biofuel infrastructure in the future. Things like blender pumps, gas pumps that can handle higher blends, and bioethanol and diesel fuel.

Biden says that in order to help American families, putting rural Americans at the center of efforts can help build a future ‘made in America’.

A lot of that has to do with this industry. I just had a chance to see the work you do here and turn more than 40 million bushels of local corn and 130 million gallons of ethanol a year.

This waiver is just for the summer of 2022.