Earlier this week Talent discussed his views on energy policies with The Associated Press in which he said there are things the government can do to lower gasoline prices for motorists.
"Four years ago, Congress had not made a commitment to renewable fuels. The oil companies had successfully blocked legislation requiring them to buy ethanol and biodiesel. In the energy bill that passed last summer, I added a renewable fuels standard to the legislation, requiring oil companies to buy 7.5 billion gallons of ethanol and biodiesel.
"Every farm state senator, Republican and Democrat, voted for the energy bill. As a result, the production of renewable energy is growing exponentially and will help lower gas prices. Currently, E-85 is selling in Missouri for 50 cents less than unleaded gasoline," Talent said.
As co-chairman of the Renewable Fuels Caucus, Talent said he favored stronger mandates for the use of ethanol and other renewable motor fuels. He also thinks the federal tax credit for ethanol be rescinded.
"I added the renewable fuels standard to the energy bill," Talent said. "That legislation required the oil companies to buy ethanol and biodiesel. As a result, 29 new ethanol plants and 50 biodiesel plants are being planned across the country including at least three new ethanol plants and a new biodiesel plant in Missouri."
Talent also sponsored the biodiesel tax credit extension, the 10-cent-per-
gallon small ethanol producer tax credit and the E-85 tax credit for ethanol fueling stations.
"We successfully added each measure to the energy bill," Talent said. "Now I'm sponsoring legislation to require the oil companies to use 10 percent ethanol by 2016. It's also important to the future of ethanol that we keep the ethanol tax credit."
The Associated Press contributed to this report.