API exec says ‘cold war’ between oil industry and biofuel producers is over
July 24th, 2024 by Ric Hanson
(Radio Iowa) – After feuding for decades, the leader of the American Petroleum Institute says the oil and gas industry has a shared mission with biofuels producers. Mike Sommers is president and C-E-O of the American Petroleum Institute.
“There’s kind of been this longstanding ‘cold war’ between ethanol and corn and oil and gas, but at this point I think we have two industries that are uniting,” Sommers says, “united to fight for liquid fuels in this country.” Regulations that promote the sale and use of electric vehicles are now the common foe. And the American Petroleum Institute has ended its opposition to nationwide, year round sales of gasoline with a higher blend of ethanol.
“We recognize the growing role for E15 in the marketplace and ensuring American consumers have access to the fuels that they depend on every single day,” Sommers says. The petroleum industry supports carbon capture technology and liquid carbon storage underground. Sommers says more pipeline infrastructure is needed.
“I think every American agrees that we should be reducing emissions not just in the oil and gas industry, but in all manufacturing.” Backers of the proposed Summit Carbon Solutions project in Iowa say it will make ethanol a low-carbon or carbon-free fuel — spurring sales in places in California. Sommers says federal tax credits for carbon pilelines should be retained, while eminent domain authority to seize land from unwilling property owners should be the last resort for pipeline developers.
“Our first priority is engaging property owners at the beginning of the process so they understand the importance of developing these pipelines,” he says, “and that they see financial benefit from it.” Sommers hopes to visit Iowa during the State Fair. He was unable to make it to in-person meetings in Iowa yesterday (Tuesday) due to airline delays and cancellations.