January 22, 2020

President Bush on Renewable Fuel

Quote of the Day: “I am not saying the US cannot spend money on farmers. They can spend as much as they like as long as it is not trade-distorting.” –EU Trade Commissioner Peter Mandelson.

I. President Bush on Renewable Fuel
II. Doha

I. President Bush on Renewable Fuel

Edmund L. Andrews and Felicity Barringer reported in today’s New York Times that, “Vowing to reduce the nation’s thirst for foreign oil, President Bush called on Tuesday for a huge government-mandated increase in renewable fuels — mainly ethanol — and tougher mileage standards for cars and light trucks.”

The Times explained that, “The centerpiece of Mr. Bush’s proposal, which he said would cut the projected use of gasoline by 20 percent over the next decade, was a nearly fivefold mandatory increase in the production of ethanol and other alternative fuels for cars and trucks. The most obvious beneficiaries would be makers of ethanol and other biofuels, but it could also promote the production of liquefied coal.

“Mr. Bush called for a mandatory requirement that makers of fuel produce 35 billion gallons of alternative fuels a year by 2017, replacing about 15 percent of the projected gasoline use in that year.

“A second major plank of Mr. Bush’s energy proposal calls for increasing fuel-efficiency standards of cars and trucks by 4 percent a year — about one mile per gallon — starting in 2010 for cars and 2012 for trucks.”