Representatives John Shimkus, R-Ill., and Elliot Engel, D-N.Y., introduced legislation called the Open Fuel Standard in May. The OFS would put a permanent competitive constraint on oil prices by opening the fuel market to alternative fuels. H.R. 1687, the Open Fuel Standard Act of 2011, would require that 50% of new automobiles in 2014, 80% in 2016, and 95% in 2017 would be warranted to operate on non-petroleum fuels in addition to, or instead of, petroleum based fuels.
Tuesday the Open Fuel Standard Coalition is presenting an Energy Security Roundtable hosted by Shimkus and Engel. Alternative fuels experts including Renewable Fuels Association President and CEO Bob Dinneen, former National Security Advisor Robert McFarlane and NASCAR driver Kenny Wallace, will discuss alternative fuels and the danger of U.S. dependence on foreign oil.
"Americans need a choice at the pump and the Open Fuel Standard would allow them to pick an ethanol blend that meets their needs," said Dinneen. "The OFS would also create market space for other alternative fuels that are critical to our nation's energy future."
The legislation has the support of many ethanol organizations including the American Coalition for Ethanol. ACE Executive Vice President Brian Jennings says the bill offers a wide range of fuel choices.
"ACE strongly supports the Open Fuels Standard because it provides consumers with meaningful fuel choices, including American-made ethanol," Jennings said. "With gas prices hovering at $4 a gallon, and with oil companies unapologetic about massive profits, and refusing to even consider changes to their favored tax status, it is time for us to create real competition in the fuel marketplace, and this legislation does just that."
To follow the event set to begin at 1 p.m. Central time go to the coalition's Twitter @OFS_Coalition or search for Open Fuel Standard Coalition on Facebook.For more information on the coalition and the legislation, visit www.openfuelstandard.org.