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Boswell, Terry introduce Renewable Fuel Pipeline ActFeb. 4, Representatives Leonard Boswell (D-IA) and Lee Terry (R-NE) have introduced bi-partisan legislation that will help improve the infrastructure for moving ethanol from the Midwest to the rest of the country. The Renewable Fuel Pipeline Act amends the loan guarantee program under the Energy Policy Act of 2005 to specifically qualify a renewable fuel pipeline as an eligible project, along with increasing the loan guarantee rate to 90 percent. "Across the nation there is broad consensus that we need to break our dependence on foreign oil," said Boswell. "This legislation will do that and also create good paying, non-exportable jobs." "For us to become energy independent we must develop infrastructure to move our own fuel from point A to point B and we can accomplish it with this pipeline," said Congressman Lee Terry. Today, more than 70 percent of the nation's gasoline supply is transported via pipelines, a method which has been found to be safe, efficient and cost effective. With more and more biofuels coming into the market and the industry reliant on more costly forms of transportation, biofuels are not an affordable choice in some of the largest population centers in the country. Currently, renewable fuels are only transported by rail and trucks across the country. "This is a first big step in helping bring renewable fuels in a large volume to consumers on the east and west coasts." Original cosponsors include Representatives Bruce Braley (D-IA), Steve King (R-IA), Tom Latham (R-IA), Dave Loebsack (D-IA), and Colin Peterson (D-MN).
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