History was made on May 31 when the EPA, led by President Trump, finalized the rule allowing E15 to be sold in our nation all year round! This announcement marks a massive win for the biofuels industry, farmers in the U.S. and around the world, consumers coast to coast, and the future of our planet.
It was more than a decade ago when, after years of discussing the impending Blend Wall with no action plan, Growth Energy was formed to get us our share of the gas tank. Just 30 days after its founding, we filed the Green Jobs Waiver, petitioning the EPA to increase the amount of ethanol in the fuel supply to 15percent. And while we should have accomplished this milestone much sooner, unfortunately the oil industry did everything in their power to stop this great opportunity for our country.
But the battle was not theirs to win.
Thanks to the talent, tenacity and hard work of thousands of people — including the dedicated teams at POET and Growth Energy, our relentless legislative champions across the Midwest and President Trump himself — year-round E15 is finally here!
This is the biggest victory American agriculture has seen in decades, and it could not have come at a better time. Calling this growing season “difficult” would be an understatement, but as with the many trials farmers have triumphed over throughout history, this too shall pass.
At POET, we like to look at the big picture. We know that there is more than enough grain worldwide to make food, fuel and fiber for everyone on the planet. The short-term challenges currently facing rural America will require us to make some adjustments, but as always, we will rely on our faith, resilience and ingenuity to come out on the other side as strong as ever.
It will take several years to realize the enormity of this announcement as markets grow, values change, the air gets cleaner and life gets better. The nationwide adoption of E15 has the potential to open up 7 billion gallons of new ethanol market and more than 2 billion bushels of additional corn demand annually in coming years. It will bring down global surpluses of grain and increase commodity prices while lowering fuel prices for consumers everywhere and reducing global climate change.
The many years of hard work leading up to E15 will truly change the world. And make no mistake — it all started right here at POET.
Congratulations and thank you to everyone who played a role in this heroic effort! I assure you that the oil industry is reeling from this battle they thought they could never lose. I hope you are as proud as I am for taking on this fight, never quitting and pushing E15 over the finish line!