Rep. Frank Lucas, Chairman of the House Agriculture Committee, today issued a statement in response to the Commodity Futures Trading Commission's (CFTC) surprise "advisory notice" to further regulate cross-border swaps.
Chairman Goodlatte Introduces 25x25 Renewable Fuel Initiative
WASHINGTON, D.C. – Chairman Bob Goodlatte today introduced a resolution, H. Con. Res. 424, setting a goal of producing 25 percent of the total energy consumed in the U.S. on America’s farms, ranches and forests by the year 2025 (25x’25). With current gas and energy prices remaining at elevated levels, the need for a sustainable, safe, and reliable energy supply is more evident. The resolution enjoys wide bipartisan support in both the House and the Senate.
At a press conference earlier today, the lead Congressional sponsors Chairman Goodlatte and Senate Finance Chairman Charles Grassley, unveiled the sense of Congress with several other original co-sponsors. The 25x’25 initiative enjoys broad support from a coalition of agriculture, industry, environmental leaders, as well as several governors and state legislators.
“The 25x’25 is a bold and ambitious goal, but one that I believe is within reach,” said Chairman Goodlatte. “Increased development of renewable fuels opens new markets for our nation’s producers, provides consumers with a safe, sustainable, environmentally friendly, and renewable source of energy, and decreases our nation’s dependency on foreign oil thereby likely lessening the negative effects of severe spikes in oil prices on consumers.”
The House Committee on Agriculture has convened hearings to review agriculture’s role in renewable fuel production and intends to hold future hearings to further examine potential agricultural opportunities for energy production.
“This is an aspiration and sets a benchmark for the Congress. We are fully committed to making sure that we don’t just set a goal and let it sit out there until 2025. We will work to ensure that a number of opportunities are explored to ensure that we can turn the 25x’25 goal into a reality,” said Chairman Goodlatte.
“Agriculture is leading the way for us to not only meet but to exceed the goal of producing 25% our nation’s energy from renewable sources by 2025. I look forward to working with Chairman Goodlatte and our colleagues on both sides of the aisle to encourage public policies that will support this important renewable energy goal,” said Ranking Minority Member Collin Peterson.
“By securing 25% of the nation's total energy from renewable sources by 2025, American families and businesses will reap huge benefits as we wean our nation off our dependence on foreign energy supplies. Additionally, renewable energy development equals economic development and will give a huge boost to our rural economies across the nation. Agriculture is well suited to play a fundamental role in renewable energy. With continued innovations, farms can become factories that produce a new generation of fuels,” said Representative Marilyn Musgrave.
CLICK HERE to listen to an audio clip of today's press conference on the 25x'25 initiative.