U.S. biofuels sector sees ally in Obama

Guardian.co.uk
Reuters
Wednesday November 5 2008
By Charles Abbott

WASHINGTON, Nov 5 (Reuters) - U.S. biofuel makers, struggling to make a profit at a time of tumbling oil and gasoline prices, look upon President-elect Barack Obama as a staunch ally for growth.

Obama has expressed support for the federal requirement to use ethanol, made mostly from corn, as a motor fuel and says he will accelerate the development of new feedstocks. That is a great contrast from foodmakers and livestock producers who tried last summer to scale back the ethanol mandate.

Ethanol makers believe Obama's victory will give them a more assured path into the future. The 2007 energy law sets a target of using 36 billion gallons of renewable fuels by 2022, including 15 billion gallons of grain-based ethanol by 2015.

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