Amazing, isn't it? Without much cost, your automobile can be converted to be able to burn fuel with 85 percent ethanol or a product made from corn grown right here in America.
Ethanol is a versatile fuel. And the benefits are easy to recognize when you think about it.
One, the use of ethanol in automobiles is good for the agricultural sector. I'm one of these people who believes when the agricultural sector is strong, America is strong.
The way I like to put it would be — it's a good thing when a president can sit there and say, gosh, we've got a lot of corn. And that means we're less dependent on foreign sources of oil.
Years back, they'd say, oh, gosh, we've got a lot of corn and worried about the price.
Ethanol is good for our rural communities. It's good economic development for rural America. You know, new bio-refinery construction creates jobs and local tax revenues. When the family farmer's doing well, it's good for the local merchants.
Ethanol is good for the environment. I keep emphasizing that we can be good stewards of our environment and at the same time continue with our economic expansion. And ethanol will help meet that strategy.
You don't have to choose between good environment and good economics. You can have both by the use of technology. And ethanol is an example of what I'm talking about. And ethanol's good for drivers. Ethanol is homegrown. Ethanol will replace gasoline consumption.
Ethanol's good for the whole country. And we've been ... I thought you'd like that.
The ethanol industry is booming. It must be exciting to have worked for as long as you have on encouraging alternative sources of energy and then all of a sudden see the work come to fruition.
Last year, America used a record 4 billion gallons of ethanol. There are now 97 ethanol refineries in our country, and nine of those are expanding and 35 more are under construction. The ethanol industry is on the move, and America is better off for it.
Many of these refineries are in the Midwest — the Midwest because that is where the source — you know, the feed stock for ethanol comes from.
BUSH: That happens to be corn.