December 4, 2007
Federal government announces new biofuels bill and ecoENERGY program
Quebec City, Quebec – The Canadian government has announced a new federal biofuels bill and details of the federal ecoENERGY for biofuels program. Federal Agriculture Minister Gerry Ritz made the announcement to open the fourth Canadian Renewable Fuels Summit in Quebec City yesterday.
“These new measures will deliver on the promise of ethanol and biodiesel for Canada,” said Gordon Quaiattini, president of the Canadian Renewable Fuels Association. “Biofuels such as ethanol and biodiesel are better for the environment, better for energy supply and gas prices, and better for farmers. The new biofuels bill, coupled with the ecoENERGY program, will ensure the future growth and development of renewable fuels in Canada.”
The new biofuels bill will make the necessary changes in law to ensure the federal government meets its goal of an average renewable content of five per cent ethanol and two per cent biodiesel in Canadian gasoline and diesel fuel. The ecoENERGY for biofuels program will invest up to $1.5 billion over nine years to boost homegrown production; the program will make investment in production facilities more attractive by partially offsetting the risk associated with fluctuating feedstock and fuel prices. Twenty new biofuels facilities are expected to be built in the coming years, creating over 14,000 new jobs in rural communities and providing a new market for over 200 million bushels of Canadian grains and oilseeds.
It is estimated that the fuel standard will result in an annual reduction of net greenhouse gas emissions of 4.2 megatonnes, the equivalent of removing more than one million cars from Canadian roads.