Sen. Lugar Says Imported Oil Makes U.S. Vulnerable; Outlines Energy Program for

“To this end, the United States should adopt a national program that would make virtually every new car sold in America a flexible fuel vehicle. We should ensure that at least one quarter of filling stations in America have E85 pumps. We should expand ethanol production to 100 billion gallons a year by 2025, a figure that could be achieved by doubling output every five years. We should also create an approximate $45 per barrel price floor on oil through a variable ethanol tax credit to ensure that investments keep flowing to alternatives. And we should enact stricter vehicle mileage standards to point automobile innovation toward conservation. The plan I am proposing today would achieve the replacement of 6.5 million barrels of oil per day by volume – the rough equivalent of one third of the oil used in America and one half of our current oil imports,” he says.

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