Politics Its time to make long-lasting and transformative investments in biofuels

03:21  28 july  2021
03:21  28 july  2021 Source:   thehill.com

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Biofuel investments are investments in companies operating in the bioenergy sector. This includes installers, component manufacturers and also the actual biofuel producers. Biofuels are currently the largest alternative energy source and will therefore play a big role in the energy transition process. As I went to university and got my Master’s degree in Economics, I did plenty of research in the field of Development Economics. After finishing university, I traveled around the world. From this time on, I wanted to make a contribution to ensure a livable future for the next generations in every part of our

Transformative Investment in Climate-Smart Agriculture. Unlocking the potential of our soils to Transitioning to a climate smart agricultural system requires critical investments for long -term One way to measure and monitor soil health is by the level of soil organic matter (SOM) and its Currently agriculture soils are sequestering one hundred more times carbon than is currently emitted in a given

Its time to make long-lasting and transformative investments in biofuels © Getty Images Its time to make long-lasting and transformative investments in biofuels

In Congress, I'm focused on supporting family farmers, investing in rural communities and addressing the generational challenges we face as a nation, including tools to address climate change. That's exactly why I'm a supporter of biofuels. Biofuels offer predictability for farmers, drive economic growth and investment in rural America and decrease the carbon intensity of our transportation sector. These benefits are why I am pushing for immediate policy and budget changes to ensure that biofuels remain a key part of this country's transition to renewable energy.

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In a bid to reduce its crude oil imports over the next four years, India is set to invest heavily in biofuels . Various media outlets are reporting that on 10 August, India’s Prime Minister Narendra Modi announced the plans to build the country’s biofuel capacity through 100 billion rupees of investment . India is one of the world’s biggest oil importers and consumers. According to the Nahvind Times , the country relies on imports to meet 81% of its needs.

Biofuel producers say the oil companies just want to squash a potential competitor. They insist they can compete as long as the price of oil remains above a barrel (it is now roughly 0) and gasoline stations offer higher blends of ethanol. Biofuel executives say that if the E.P.A. adopts the proposal, they would probably have to limit new American investments and develop plants instead in Europe, China and South America. More than .7 billion has already been invested in developing advanced biofuels as they have progressed from laboratory tables to pilot and demonstration projects

Minnesota is no stranger to renewable fuels like ethanol and is the fourth-largest producer of corn in the United States. Right now, more than half of the district I represent is covered by corn and soybeans. With 19 ethanol plants in our state, this activity contributes between $1 and $2 billion to Minnesota's GDP annually and last year supported nearly 14,500 full-time jobs. Over the past several years, biofuels like ethanol and biodiesel have helped keep our family farms afloat - even as growers and producers across the country have struggled with overseas trade uncertainty, volatile markets and a global pandemic that disrupted supply chains around the world.

The benefits of renewable biofuels go far beyond their economic impact on rural communities. They are also a key tool in our fight against climate change. Recent studies - including one from EH&E, Harvard and Tufts - show that renewable fuels like ethanol cut carbon emissions by 46 percent or greater compared to traditional fossil fuels. The reduction of greenhouse gas emissions achieved by a transition to higher ethanol blends like E15 - a 15 percent ethanol blend - is equivalent to taking nearly 3.85 million cars off the roads. In Minnesota alone, a shift to E15 has the power to reduce greenhouse emissions by 332,000 metric tons. And in California, where a low carbon fuel standard creates a market for renewable fuel credits to decarbonize the transportation sector, it's biofuels that are playing the biggest role in reducing transportation sector carbon emissions.

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The report presents facts, findings and models regarding biofuels in a broad context. It points out the associated uncertainties. The document identifies scenarios which may evolve in either a predictable or non predictable way in the future but which in turn may considerably influence the debate. The draft report was prepared as a contribution to the January 2008 Commission proposal for a Directive on the promotion of the use of energy from renewable sources which was made against the background of the commitment by the European Council of March 2007 to a set of targets on energy and climate change.

At no time does the article mention the eugenist nature of deliberate population reduction, in connection with the covid plandemic, the coerced and by many accounts poisonous - vaccination campaign, with a non-vaccine, but instead a novel, totally untested mRNA-type "gene therapy" which the US CDC has We know this is a false pretense, and is a totally manufactured argument to make you look the other way, when within two to three years you may see massive dying of people way below the average statistical life expectancy. We all know, gender inequality has been persisting in the west for the last

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Right now, this country and the world are experiencing the severe and devastating consequences of a changing climate. More than 70 percent of my state is experiencing drought conditions. It has never been more important that we identify and embrace innovative solutions that can help to reduce our carbon emissions and reverse this dangerous trend. I am strongly supportive of the inclusion of electric vehicles in the conversation due to their potential for emissions reductions. But given the scale and severity of this crisis, it is vital that we pursue impactful policies that can be implemented immediately. Unlike the longer-term timeline of electric vehicles, we can take advantage of the significant benefits of biofuels today. That's why in Washington, I am committed to fight for immediate action on key legislation in this space.

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  Scale and speed to confront runaway climate change To inform mindsets, it is vital to connect the dots during catastrophes when public attention is focused on them. Seeing these connections in real-time will likely foster political and popular support for climate investments, for which public policy must take the lead. The president wants to push through a $3.5 trillion budget to fund a clean energy transition to mitigate climate change. Its components for price and tax incentives for clean energy and electric vehicles, establishing a clean energy standard and the creation of a civilian group to support environmental action are essential measures.

UPM admits it is unusual in making its refinery investment without subsidies. Most experts say that companies will need initial support, either with research costs or with duty discounts on fuel prices. The European Investment Bank supported Biochemtex’s research with a €65m loan. But he insists that is no excuse for not setting a target of even 1 per cent as that would give the market the confidence it needs to continue investments in advanced biofuels . The issue is made more complicated with mathematical debates over how to encourage countries to use more advanced biofuels by allowing

Its production of high protein animal feed makes its operations highly sustainable, they argue. But political policy uncertainty means it is unclear whether resumption of production will be only temporary. One of Europe’s biggest bioethanol plants, Ensus uses UK-grown surplus wheat. “The government is looking at options on how to meet the EU requirements by shifting from crop-based biofuels towards renewable fuel from waste,” it said. It acknowledged the “significant investment ” in biofuel facilities like Ensus, adding: “We are playing our part. Last year we announced £25m investment for waste

Earlier this year, I introduced the Renewable Fuel Standard Integrity Act, bipartisan legislation to create transparency in the small refinery exemption (SRE) process and offer more certainty to the renewable fuel marketplace. I have also co-sponsored the Renewable Fuels Infrastructure Investment and Market Expansion Act, a critical piece of legislation to invest in biofuels infrastructure across the country. And in July, I introduced the Year-Round Fuel Choice Act, a bill to ensure that Americans can buy E15 throughout the entire year.

By acting quickly to pass these key pieces of legislation, Congress and the Biden administration can make a long-lasting and transformative impact for rural America and our collective effort to combat climate change. I was disappointed not to see biofuels included in the initial bipartisan infrastructure framework, but rest assured that as conversations in Washington continue to focus on infrastructure investments and efforts to address climate change, I will continue to fight to ensure renewable fuels have a seat at the table. After all, they are road-ready solutions to support family farmers, generate economic growth in rural America, and tackle climate change. Now is the time to make sure they are part of the mix. If not, we will have missed an important opportunity as a nation to reduce carbon emissions immediately.

Craig represents the 2nd District of Minnesota and is a member of the Agriculture Committee and Energy and Commerce Committee.

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usr: 4
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