Homegrown American Fuels Support 598 Jobs, $25.0 Million in Wages
WASHINGTON, DC — The Fuels America coalition today released an economic impact study by John Dunham & Associates showing the far-reaching benefits of renewable fuels for Vermont workers and businesses.
Renewable fuels now represent nearly 10% of America’s fuel supply and have helped reduce U.S. reliance on foreign oil to the lowest level in years. The analysis takes into account the entire supply chain for renewable fuels and quantifies the impact to the economy.
Benefits to Vermont from the renewable fuels industry include:
- Driving $82.5 million of economic output
- Supporting 598 jobs and $25.0 million in wages
- Generating $3.0 million in state tax revenue each year
The full analysis is available on the Fuels America website, including detailed state by state reports.
The report tells the story of an innovative, advanced renewable fuels and biofuels industry that is producing growing benefits for America’s economy. “The data are in: The Renewable Fuel Standard (RFS) is driving billions of dollars of economic activity across America,” the report concludes. “This is the result of years of investment by the biofuel sector to bring clean, low carbon renewable fuels to market.”
Embraced by both Democrats and Republicans and signed into law by President Bush – but bitterly opposed by the oil industry – the RFS calls for the use of American-grown renewable fuels in our transportation fuel supply. The oil industry is urging the U.S. EPA and/or Congress to repeal or weaken the RFS so that renewable fuels do not further reduce oil industry market share.
Fuels America stands with the thousands of farm families, workers, small business owners, environmental advocates, veterans and military families who submitted comments to the U.S. EPA urging the agency to protect the Renewable Fuel Standard and support the development of clean, homegrown American fuels.
About Fuels America
Fuels America is a coalition of organizations committed to protecting America’s Renewable Fuel Standard and promoting the benefits of all types of renewable fuel already growing in America. Fuels America is founded on a simple core principle: Renewable fuel is good for the U.S. economy, for our nation’s energy security and for the environment. Visit us at www.fuelsamerica.org.