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Missouri Governor touts benefits of ethanolI recently signed House Bill 1270 requiring that gasoline sold in Missouri be blended with 10 percent ethanol (E-10) by 2008. This new laws fulfills a commitment I made to Missourians and will help plant the seeds for our state to benefit from the growing alternative fuels industry. The Missouri Renewable Fuel Standard Act is a major step we are taking to position our state as a leader in ethanol production and utilization. Missouri's new E-10 standard will ensure that ethanol is used in Missouri gasoline when, and only when, it is less expensive than petroleum-based gasoline. This standard will also help to lessen our dependence on foreign oil. Currently we import the majority of our petroleum for foreign nations. Missouri's utilization of cleaner burning ethanol will help reduce our country's dependence on foreign oil. Ethanol improves our environment and the air we breathe. It contains more oxygen than petroleum-based gasoline which improves combustion and reduces emissions of harmful compounds such as carbon dioxide, carbon monoxide, and carcinogens like benzene and toluene. Studies have shown that a 10 percent ethanol blend reduces particulate matter emissions by 50 percent, carbon monoxide emissions by 30 percent and emissions of other toxic compounds by 13 percent. So in addition to reducing costs for consumers our new E-10 standard will help improve our health and environment. Missouri currently has three operating ethanol plants in Macon, Malta Bend and Craig that produce about 115 million gallons of ethanol annually. A fourth ethanol plant in Laddonia will begin operations later this year. Anticipated growth in Missouri's ethanol industry will produce more than enough blended fuel to meet this new E-10 standard. Missouri's first four ethanol plants will consume approximately 55 million bushels of corn annually and is expected to raise the value of Missouri's corn by $41 million at the farm level annually. It is estimated farmers can expect a five to fifteen cent per bushel price increase for corn as the demand for ethanol increases. I am the first governor to recommend full funding for the Ethanol Incentive Fund in my budget. Since taking office I have directed $15.6 million to this fund. I fought for Missouri's new E-10 standard because it sends a strong and important message that our state is doing our part to look for alternative fuels to help lessen America's dependence on foreign oil. The more clean-burning, renewable fuel Missouri produces and uses, the better off we will all be in the long-term. -- Missouri Governor Matt Blunt Date: 7/26/06
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