Can biofuels replace foreign oil imports?
Currently, the U.S. consumes 20.6 million barrels per day of petroleum, 60% of which come from imports. Ninety-five percent of oil is burned as fuel, 2/3 of which is gasoline. A multi-pronged approach of strategic initiatives and investments in efficiencies and biofuels, both public and private, could effectively displace foreign imports over the next 20 years, as well as substantially decrease greenhouse gas emissions and other air pollutants. (Aspen Institute Report: “A High Growth Strategy Strategy for Ethanol”) For the most part, the technologies on which these steps rely already exist and are currently in various stages of commercialization and development. Public policy can accelerate this transition to achieve greater national security and energy independence, greenhouse gas reductions, and an infusion of jobs, productivity and income in rural and industrial sectors. Public policy leadership will be necessary in order to allocate resources efficiently so that the benefits can be
