Trump Administration to invest up to $100 million to increase biofuel sales
U.S. Ag Secretary Sonny Perdue traveled through the heart of ethanol country Thursday to promote the Trump Administration’s plan to invest up to $100 million to increase national biofuel sales.
Perdue began the day visiting a fueling station in southern Minnesota before making his way to Golden Grain Energy, an ethanol plant in Mason City, Iowa where he talked about the final step in year-round E15.
“The impediment of the E15 year-round was having access for the consumer.”
He says those obstacles can be overcome through the Higher Blends Infrastructure Incentive Program. USDA is rolling out $22 million in HBIIP investments that are projected to increase ethanol demand by nearly 150 million gallons annually.
Iowa U.S. Senator Chuck Grassley tells Brownfield that helps consumers, filling stations, and American agriculture.
“When you get cars that about 90 percent can use E15, we’re going to be selling more ethanol. And we’re going to be more profitable in the price of corn, and profitable in ethanol.”
Renewable Fuels Association CEO Geoff Cooper says the $100 million from USDA will be matched by the private sector.
“That’s about a quarter-billion dollars going into higher blends infrastructure (like) pumps, tanks, hoses, the whole nine yards.”
USDA is initially funding projects in Iowa, Illinois, Indiana, Minnesota, Missouri, Nebraska, Ohio and Wisconsin.
Sonny Perdue and Chuck Grassley audio:
Geoff Cooper audio: