U.S. Rep. Bob Etheridge (D-Lillington) today called for increased funding for biofuels initiatives as President Bush visits North Carolina’s Second Congressional District to speak about reducing the country’s dependence on foreign oil.
The President will speak at Novozymes, a biotech company in Franklinton.
“I welcome the President to North Carolina’s Second District, and am pleased to see him discuss an issue I have worked to promote in Congress: biofuels,” said Etheridge.
“In his State of the Union address, the President called for reducing gasoline consumption by 20 percent within 10 years. To reach his goal, we will need a sizeable commitment. Unfortunately, I am concerned that the President’s budget proposal for 2008 does not match his ambitious rhetoric.
“Although the budget increases funding for renewable energy programs, the funding is far short of what is needed. For example, the Administration’s Farm Bill proposal does not include biodiesel, which North Carolina has a tremendous potential to produce using soybeans and peanuts. The budget also slashes value-added grants by 25 percent, which can be used to fund energy start-up companies. It also cuts renewable energy grants from the Fiscal Year 2006 level.
“The budget also fails to address the cost of putting in place the infrastructure that would be necessary to make biofuels widely available: pumps for ethanol and biodiesel, railcars and barges needed for transporting fuel, or the flex-fuel cars needed to ensure that there is a market for these fuels.
“We need a greater federal commitment because by investing in biofuels, we not only make energy more affordable, we also invest in North Carolina and rural America. Every dollar we invest in domestic biofuel production is a dollar that stays in America and creates good-paying jobs in our communities. It’s a win-win solution for America. We have the vision, now we need the leadership to achieve our goal.”
Etheridge is the Co-Chair of the Rural Working Group and introduced legislation in the 109th Congress to increase the production of biofuels in America. Etheridge hosted a Congressional Biofuels Summit in April 2006 to gather input for the legislation and Novozymes provided a panelist.