U.S. Rep. Boswell: Pushes For Ethanol Pipeline

Iowa Politics.com

8/20/2008
For Immediate Release
August 20th 2008

CONGRESSMAN BOSWELL PUSHES FOR ETHANOL PIPELINE
Boswell joined by Magellan Pipeline Company, Iowa Corn Growers and Iowa Renewable Fuel AssociationPleasant Hill, IA—Today, Congressman Leonard Boswell, along with representatives from the Magellan Pipeline Company, Iowa Corn Growers and the Iowa Renewable Fuel Association held a press conference highlighting the need to improve the infrastructure for moving ethanol from the Midwest to the rest of the country. In July, Boswell, along with Congressman Lee Terry (R-NE), introduced the Renewable Fuel Pipeline Act, which would qualify a renewable fuel pipeline as an eligible project under the federal loan guarantee program within the U.S. Department of Energy. Specifically, H.R. 6692, amends the loan guarantee program under the Energy Policy Act of 2005 to qualify a renewable fuel pipeline as an eligible project, along with increasing the loan guarantee rate to 90 percent.

“Biofuels are a win-win for the American farmer and the American consumer,” said Boswell. “However, we are in dire need of a safe and cost effective way to transport it to the rest of the country. This legislation will help give companies the security they need to move forward on a renewable fuel pipeline. This is a first big step in helping bring renewable fuels in large volumes to consumers on the East and West coasts.”

“Passage of this legislation would help promote innovative transportation options which would assist in meeting the nation’s growing need for renewable fuels,” said Don Wellendorf, Magellan’s President and Chief Executive Officer. “Pipelines have consistently been chosen over the years as the safest, most reliable and cost effective method for moving liquid fuels. A renewable fuel pipeline project from the Midwest to the east coast would be a major step in bringing ethanol into the traditional petroleum infrastructure system.”

Read the full press release