New incentives for biofuel seen as positive step in renewable energy production; signals opportunity for U.S. growers, agribusiness

Pioneer Hi-Bred International, Inc., today is applauding the signing of the Energy Policy Act into law by President George W. Bush. A highlight of the act is the creation of a 7.5 billion gallon renewable fuel standard (RFS) that will expand the marketplace for corn and soybean growers by increasing use of renewable domestic fuels such as ethanol and biodiesel.

"Our nation's crop producers are the most efficient growers in the world, and now they will have a further opportunity to put those high standards of efficiency to use in bolstering our country's renewable fuel supply," said Pat Hilliard, account manager - ethanol industry, Pioneer.

Pioneer currently offers 121 corn ethanol hybrids characterized as high-total-fermentable (HTF) in all maturity groups, said Hilliard. These hybrids are specifically selected for high-potential ethanol yield, he added.

"At Pioneer, we are proud to do our part to provide growers with a wide range of products for the ethanol industry," said Hilliard. "Additionally, we have a team of researchers dedicated to further developing ethanol hybrids to help growers maximize the opportunity that ethanol represents both now and in the future."

Energy Policy Act

The newly approved RFS of the Energy Policy Act establishes that a percentage of the U.S. fuel supply will be provided by renewable, domestic fuels such as ethanol and biodiesel. In addition, the act extends the biodiesel tax credit through 2008 and establishes a 30 percent tax credit up to $30,000 for the cost of installing clean fuel refueling equipment, such as an E85 fuel pump.

The new act is truly a win for American consumers and farmers alike, said Hilliard.   

"Increasing our availability of renewable fuels from U.S. agricultural sources is a step toward added self-sufficiency in the energy arena, and that's good news for all of us," said Hilliard.            

Currently 13 percent of the U.S. corn crop is dedicated to ethanol production, Hilliard said. In addition to corn, sorghum is also a growing source for ethanol production, he adds.

"There has never been a better time for growers to consider the Pioneer® brand ethanol products," said Hilliard. "Growing grain for biofuel production is an increasingly attractive option."

Pioneer Hi-Bred International, Inc., a subsidiary of DuPont, is the world's leading source of customized solutions for farmers, livestock producers and grain and oilseed processors. With headquarters in Des Moines, Iowa, Pioneer provides access to advanced plant genetics, crop protection solutions and quality crop systems to customers in nearly 70 countries. DuPont is a science company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture, nutrition, electronics, communications, safety and protection, home and construction, transportation and apparel.

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