Biden to address public in Iowa on plans of Reducing Gas Prices

Biden to address public in Iowa on plans of Reducing Gas Prices

Biden to address public in Iowa on plans of Reducing Gas Prices
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The White House has released some details about Joe Biden’s scheduled speech in Iowa, where he will speak about steps to tackle skyrocketing inflation and lower gas prices at the pump at a bioprocessing company in rural Menlo later today.

“The administration’s strategy to spur the development of homegrown biofuels is critical to expanding Americans’ options for affordable fuel in the short-term and to building real energy independence in the long-term by reducing our reliance on fossil fuels,” a fact sheet released by the White House says.

To that end, Biden will announce that the environmental protection agency (EPA) will issue an emergency waiver allowing E15 gasoline (15 percent ethanol) to be sold this summer.

In times of stability, sales of E15, which the White House claims is 10 cents a gallon cheaper than regular petrol but which some analysts believe is more hazardous to the environment due to its smog-producing chemicals, are prohibited.

“An emergency waiver can help increase fuel supplies, give consumers more choice to get lower prices, and provide savings to many families,” the White House release says.

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“Allowing higher levels of blending will also reduce our dependency on foreign fuels as we rely more heavily on home-grown biofuels. This will help us bridge towards real energy independence.”

The president would also increase his administration’s financial involvement in alternative energy, which includes more than $800 million in biofuels from pandemic relief efforts.

 

Despite his efforts in green energy, Biden has been chastised for boosting the fossil fuel business.

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