The proposed National Low Carbon Fuel Standard Act of 2007 would require fuel refiners to reduce the lifecycle greenhouse gas emissions of the transportation fuels sold in the
Because most biofuels have lower lifecycle greenhouse gas emissions than gasoline, the NLCFS is expected to expand the market for renewable fuels while incentivizing lower carbon emissions in their production. By one estimate, the NLCFS will create a market for over 40 billion gallons of biofuels by 2020.
“Expanding the renewable fuels market in the
The National Low Carbon Fuel Standard Act of 2007 introduced by Obama and Harkin on Monday is just one in a growing list of similar bipartisan legislation.
In January,
In March, Senators Dianne Feinstein (D-California), Susan Collins (R-Maine) and Olympia Snowe (R-Maine) introduced a measure to that would require fuel suppliers to increase the percentage of low-carbon fuels--biodiesel, E-85 (made with cellulosic ethanol), hydrogen, electricity, and others--in the transportation fuel supply by 2015.
“It’s time to act on climate change,“ said Senator Harkin, Chairman of the Senate Agriculture Committee. “We’ve got to begin reducing greenhouse gas emissions, and emissions from our vehicles need to be a part of that. This bill sets a standard that establishes a steady downward trend for life cycle greenhouse gas emissions of our transportation fuels. Because biofuels generally have lower life cycle greenhouse gas emissions, this bill also promotes rural economic development and national energy security.“
The National Low Carbon Fuel Standard Act of 2007 will:
-- Provide near-term demand certainty to renewable fuel producers. The Renewable Fuel Standard in the Energy Policy Act of 2005 will be expanded in the near-term to require 15 billion gallons of renewable fuel by 2012.
-- Drive the production of ultra-low carbon fuels. The bill requires fuel refiners to use minimum amounts of fuels with 50 and 75 percent lower lifecycle greenhouse gas emissions than gasoline.
-- Utilize a credit trading mechanism. Fuel refiners can trade allowances or bank them against future carbon reduction requirements.
-- Ensure an environmentally sustainable biofuels expansion. The bill ensures that the expansion of biofuels production does not impact national wildlife refuges, national parks, national forests, old-growth forests, or national grasslands. The bill calls for an assessment of the impacts of the expansion, including a comparison to the business-as-usual scenario of continued reliance on petroleum-based transportation fuels, and the development of standards by 2012 to protect air, land, and water quality.
-- If enacted in conjunction with a bill (S. 768) proposed by Senator Obama to raise fuel efficiency standards, the NLCFS would reduce emissions by about 530 million metric tons of greenhouse gases in 2020, the equivalent of taking over 50 million cars off the road.
PIN/ SOLARACCESS.COM
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