Chairman Corridor, Vice Chair Lear, Rating Member Rogers, Jr., and members of the Committee,
Thanks for the chance to offer written testimony relating to Home Invoice 358. Progress Power is the world’s largest affiliation of biofuel producers, representing 97 U.S. crops that every yr produce greater than 9.5 billion gallons of renewable gasoline, 123 companies related to the manufacturing course of, and tens of 1000’s of biofuel supporters across the nation. Collectively, we’re working to deliver higher and extra reasonably priced selections on the gasoline pump to shoppers, enhance air high quality, and shield the surroundings for future generations. We stay dedicated to serving to our nation diversify its vitality portfolio, maintain household farms, and drive down the prices of transportation fuels for shoppers.
We write at the moment in help of Ohio’s efforts to determine primacy within the approval and regulation of Class VI carbon dioxide sequestration wells for potential initiatives within the state. Carbon sequestration is a crucial software for the bioethanol trade, significantly as demand for low-carbon liquid fuels continues to rise. Ohio is positioned as one in every of solely a comparatively handful of states with optimum carbon sequestration geology.
Liquid fuels are anticipated to proceed to dominate the nation’s transportation gasoline matrix within the coming a long time. Home markets, in addition to an rising variety of worldwide markets, are inserting a premium on low-carbon liquid fuels. By establishing primacy, Ohio’s bioethanol trade, coupled with favorable geology for sequestration in a number of areas of the state, will present extra financial advantages to the biofuels trade and the agricultural Ohio economies it helps through elevated entry to those low-carbon home and worldwide markets.
With the U.S. Division of Agriculture predicting additional decreases in farm incomes, these new markets and financial alternatives are significantly vital for rural communities depending on grain costs and biofuels manufacturing. As of November 11, 2024, 154 Class VI permits have been at the moment underneath evaluation by the U.S. Environmental Safety Company. Many of those allow purposes have skilled delay after delay, stopping bioethanol producers from shifting ahead on capital- and labor-intensive carbon sequestration initiatives.
By establishing primacy, Ohio can transfer ahead with CCUS initiatives with out delays from federal businesses. Progress Power’s members, and the corn growers with whom we work, will profit drastically from Ohio’s efforts on Class VI primacy. Ohio can be a part of North Dakota, Wyoming, and Louisiana in making the most of this financial alternative for quite a lot of industries.
We thank State Consultant Robb-Blasdel for introducing this laws and dealing with stakeholders to make sure the financial advantages of CCUS initiatives can profit Ohioans throughout its vitality trade. Given our trade’s expertise and experience in carbon discount, we’re completely satisfied to help the Committee with technical questions as they think about this vital laws.
