Daily News Update, Dec. 21, 2007

President signs energy bill calling for increase in RFS

President Bush signed into law Wednesday H.R. 6, the Energy Security and Independence Act of 2007, mandating that 36 billion gallons of renewable fuels be produced by 2022. Fifteen billion gallons of fuel are to come from grain-based sources such as corn.

The previous Renewable Fuel Standard (RFS) calls for production of 7.5 billion gallons by 2012. President Bush said the new law represents "nearly a fivefold increase over current levels."

NCBA member policy opposed increasing this government mandate because of the negative impact the mandate would have on corn prices and supplies.