AGRIBUSINESS : New bill would block E15
Mississippi Senator Roger Wicker and Louisiana Senator David Vitter have introduced legislation to block the introduction of E15.
According to the Senators – allowing E15 into the marketplace coudl damage existing engines and could rack up sizable repair bills by voiding warranties.
Renewable Fuels Association President and CEO Bob Dinneen says the legislation is fueled by emotion and loyalty to home state oil constituents; he says oil companies are panicked because ethanol now represents 10% of the American fuel supply and are fighting to preserve their market share.
Currently nationwide gas prices are averaging $3.73 per gallon; one month ago, the nationwide average was only $3.30.