POET'S VOICE IN WASHINGTON

POET's involvement in federal and state policy issues.

POET Statement on 3/1/2018 White House Meeting

POET CEO Jeff Broin made the following statement today after meeting with President Trump, lawmakers and industry leaders at the White House.

“It’s clear from this conversation that another refinery bailout is more important to Sen. Cruz and the EPA than the economic crisis facing Midwest voters at the moment.

“Nothing new was discussed in this meeting. Removing accountability from oil companies would deprive millions of Americans the freedom to choose less expensive, homegrown biofuels and imperil countless jobs and family farms across America’s heartland.

“I want to thank the President for the opportunity to share the story of how our industry fuels the economic engine of the Midwest. In November 2016, 119 counties there flipped Republican based on President Trump’s commitment to rural economic growth and strong support for the Renewable Fuel Standard.

“This issue will continue to play out. We will protect interests of this industry, farmers and consumers.”


Thirty years ago, POET opened its doors as a means to lift one family farm out of the agriculture crisis. Today, we operate 30 biofuel facilities in eight states and support thousands of American jobs across the heartland. Every day, POET produces homegrown renewable energy – keeping our air cleaner and supporting our economy. We help drivers save the environment – while saving money at the fuel pump. POET is also committed to supporting public policies that reflect our passion for innovation and promote America’s continued growth as the world leader in biofuel production. Our mission is to build more sustainable world, from the ground up.


REMOVING BARRIERS TO CONSUMER FUEL CHOICES WITH A REID VAPOR PRESSURE (RVP) FIX


Fuel retailers want to offer their customers E15 — a federally approved fuel with 15 percent ethanol and 85 percent gasoline. It is approved for almost 90 percent of American vehicles, can save motorists money and increase a vehicle’s performance. However, an unnecessary regulation limits how most retailers can sell E15 during the summer fueling season (June 1 - September 15).


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SUPPORTING BIOFUELS GROWTH UNDER A STRONG RENEWABLE FUEL STANDARD


The Renewable Fuel Standard (RFS) is America’s most successful domestic energy policy working to lower our dependence on foreign oil, keep our air clean, and provide consumers with more affordable fuel options that are also good for engine performance.

Since its authorization under the Energy Policy Act of 2005 and expansion under the Energy Independence and Security Act of 2007, the RFS has given homegrown biofuels a chance to compete at the pump, allowing consumers to select from a range of options at the gas station, including blends containing clean, homegrown ethanol.


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OPENING NEW MARKETS FOR U.S. EXPORTS & TRADE


Biofuels don’t just help farmers and ethanol producers stay competitive, they keep America competitive. In fact, America is now the world’s top exporter of ethanol, supplying more than one billion gallons (68,000 barrels per day) of fuel ethanol to our trading partners in 2016, an increase of 26 percent from the previous year. In nations like China, India, Brazil, Mexico, and South Korea, foreign leaders are seeking solutions to cut air pollution and displace chemicals in gasoline that form potent carcinogens when burned. Ethanol is the only alternative that can seamlessly and cost-effectively replace fossil fuels in today’s vehicles, and POET stands ready to help meet that demand.

That is why we support efforts to educate foreign policymakers about the demonstrated benefits of ethanol and its value to drivers all over the globe. We also support ongoing efforts to expand U.S. access to foreign markets and eliminate duties, tariffs and other protectionist trade barriers that prevent U.S. exports from reaching consumers overseas.


RFS POST-2022


When Congress passed the Energy Independence and Security Act of 2007, which created the current Renewable Fuel Standard, part of that legislation explicitly set a table of yearly volume requirements out to 2022. This begs the question – what will happen to the RFS post-2022? Will it expire? Will any biofuels be blended into the fuel supply? Will Congress pass a new law? Will biofuel and corn producers be protected?


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POET, LLC
4615 North Lewis Avenue
Sioux Falls, SD 57104
P / 605.965.2200
F / 605.965.2203

DC Office
900 7th Street NW, Suite 820
Washington, DC 20001



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