NFU: Renewable Energy Revitalizing Rural Economies
For Immediate Release: March 6, 2008
Contact: Liz Friedlander, 202-314-3191WASHINGTON (March 6, 2008) - National Farmers Union President Tom Buis told members of Congress today that rural America is ready, able and willing to help address the nation’s most significant challenge - moving America toward energy independence.
“With expanding production of a variety of renewable energies, economic opportunities are returning to rural America. A 50 million gallon ethanol plant increases a local community’s GDP by $152.3 million; increases household income by $40 million; increases local spending by $56 million; and creates more than 600 new jobs,” Buis said.
Buis testified this morning before the House of Representatives Select Committee on Energy Independence and Global Warming.
“After years of market prices below cost of production and producers’ reliance on farm safety net programs, farmers are now receiving their income from the marketplace,” Buis said. “Farmers are not only benefiting from higher commodity prices, but also from local ownership of ethanol production facilities.”
Buis said farmers and other local investors own 40 percent of the nation’s ethanol production; these locally owned plants represent the single largest producer of ethanol in the country.
Buis applauded Congress for supporting the Renewable Fuels Standard (RFS) and urged immediate extension of the wind Production Tax Credit (PTC), which is set to expire December 31, 2008. He urged support for the renewable electricity industry by adopting a Renewable Portfolio Standard (RPS), which was passed by the House last year, but not included in the final energy bill.
“NFU believes it is critical for federal policy to foster the development of renewable electricity projects and in particular locally-owned and community-based projects,” Buis said.
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