LINCOLN, Neb. -- The 37 gubernatorial members of the Governors' Ethanol Coalition today released a report which asks the President and members of Congress to adopt four recommendations regarding the future of biofuels.

The report, "Ethanol from Biomass: How to Get to a Biofuels Future", calls for these recommendations:

  • Expand the Renewable Fuels Standard (RFS) to include a short-term target of 12 billion gallons a year of ethanol and biodiesel use by 2010, and longer-term British thermal unit-based targets of 15 percent of total motor fuels consumption by 2015 and 25 percent by 2025, with equal incremental steps provided for each year in between;

  • Assign a financial value to the RFS cellulosic ethanol 2.5:1 trading credit into a more practical credit.

  • Establish a timetable for delivering 85% ethanol/15% gasoline infrastructure on a regional basis within five years.

  • Provide adequate funding for the Energy Policy Act of 2005-authorized biofuel research, demonstration and incentive programs.

  • According to a study by the Coalition, adoption of a goal of providing 20 percent of the nation's fuel supply from biofuels would produce benefits:

  • About 60 billion gallons of ethanol produced annually;

  • $52 billion a year in avoided oil imports, reducing the trade deficit;

  • $110 billion in direct economic activity each year with an annual impact of $368 billion on the nation's economy;

  • 2.4 million new jobs.

  • SOURCE: Governors' Ethanol Coalition via PR Newswire.