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Talent chairs new group set up to support the RFS

The Renewable Fuel Standard is getting support from a group chaired by former U.S. Senator Jim Talent.  The organization, called Americans for Energy Security and Innovation, was formed to help keep the RFS part of U.S. energy policy.  When he served from the state of Missouri, Talent, a Republican, helped to pass the RFS in 2005.  He says it’s working well.

“It’s displaced 10 percent of oil and imported oil in the market; I think that’s about 500 million barrels of oil,” said Talent, on a conference call to reporters Wednesday.  “It’s held down the cost of fuel because ethanol costs less than gasoline, it’s a high octane, efficient fuel; it burns clean.”

Talent also cites the fact that the RFS has led to greater amounts of value-added agriculture because of the number of ethanol and biodiesel plants that have gone online following its passage.  He says renewable fuels are under domestic control, while petroleum prices are controlled and often manipulated by OPEC.

“I likened it at the time, and still do, the RFS is like a gigantic strategic petroleum reserve,” said Talent, “except it doesn’t cost the government anything to maintain, it’s better for the environment, it creates large numbers of jobs and it supports family farming and agriculture across the country.”

Talent will only say that the new organization is supported by those in the business of producing renewable fuels.  He says Americans for Energy Security and Innovation has an Internal Revenue Code designation of 501(c)(4), an organization that isn’t required to disclose who its members are.

AUDIO: Jim Talent conference call (15 min. MP3)