Dec 11
23
Gov. Mitt Romney Rural Economic Development Roundtable Treynor, Iowa October 20, 2011 Transcript Absolute Energy CEO Rick Schwarck: There are some opponents and critics of ethanol who are trying to dismantle the RFS2. That’s very important to the industry. I find it funny that they call that a, the ethanol, a mandate when you’re only allowed to sell a legal fuel in this country — and that’s by ASTM standard — and that’s a fossil fuel. So until ethanol came along we had a mandate to buy fossil fuels. Ethanol is the only choice that you have to break that mandate. So if you have any questions? I know you’ve supported the renewable fuels industry in the past and hopefully will continue to so as the next president. Romney: Thank you, I appreciate that. I can tell you this, that I believe ethanol is an important part of our fuel solution, our energy solution. I supported the subsidy of ethanol to help get the industry on its feet. I’ve indicated that I didn’t think the subsidy had to go on forever. As in most efforts of this nature you want to get an industry to be competitive and then stand on its own feet. The ethanol subsidy, I understand, expires in December. And I might have looked at more of a decline over time as your senator suggested, but it’s now been decided that’s going to be gone in December. Most people I know in the ethanol industry say: “fine, we’re now up and going.” In the early days, as I understand it, for about every Btu of ethanol that came out it took …
Sign up for our newsletter and download "Hypermiling: How to Make Your Car Go Further with Less Gas" absolutely free!
