Tuesday, April 27, 2021
INDIANAPOLIS (April 27, 2021) — Yesterday, Indiana Governor Eric Holcomb vetoed a flawed bill that would have sabotaged sales of E15, a renewable motor fuel blended with 15% bioethanol. The law would have mandated restrictive warning labels on E15 fuel dispensers that would cause unnecessary confusion at the pump, deprive Hoosiers access to significant fuel savings, and destroy future demand for Indiana corn.
Joshua Shields, Senior Vice President of Government Affairs and Communications for POET issued the following statement:
“We applaud Governor Holcomb and Lt. Governor Suzanne Crouch for their leadership and for protecting the freedom to fuel with E15. The facts show that E15 represents the most promising opportunity to grow the rural economy, drive dependable demand for Indiana grain and save consumers money at the pump. With Governor Holcomb’s veto, Indiana farmers, biofuel producers and retailers will continue to drive fuel savings and Indiana’s rural economy forward with E15.”
The bioethanol industry is an economic engine for Indiana. A new economic analysis shows that a statewide shift to E15 could add $377.3 million in gross domestic product to the state’s economy, drive 51 million bushels of new grain demand for farmers with a farm gate value of $195.8 million and generate more than $118.6 million to household incomes statewide. Production of bioethanol and coproducts also drives demand and stabilizes grain prices for family farms across Indiana.