Bush seeks to scrap current ethanol standard

The Bush administration has proposed scrapping the current U.S. renewable fuels standard that requires ethanol use to reach 6.8 billion gallons a year in 2010 in favor of a wider alternative fuels requirement that aims to cut America’s foreign oil dependence.

Under the legislative proposal sent to Congress on Monday, the new standard would require U.S. ethanol and alternative fuel consumption to reach 10 billion gallons in 2010.

The alternative fuels standard would then slowly rise through 2014, and ramp up the following three years to reach 35 billion gallons annually in 2017.

reuters