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Kingston Speaks at Southeast Bioenergy Conference 2010

Press Release

Location: Unknown

Murray Campbell, FUEL's CEO, joined legislators and industry experts in addressing participants of the 5th Annual Southeast Bioenergy Conference held August 3-5 in Tifton, Georgia. Congressman Kingston addressed the General Session and provided the following statistics: The United States has 4% of the world's population, yet it uses 25% of the world's oil supply though it only has 3% in its own reserves; The U.S. imports over 60% of its oil from unstable countries; U.S. oil needs are projected to increase by 40% over the next 20 years. Rep. Kingston discussed the importance of renewable fuels to the country's national security. He said we must continue exploration, innovation and conservation. He explained that the federal government is leading by example in conservation efforts. As provided by Kingston, the Dept. of Defense has an annual budget of $523 billion, not including the cost of the war, estimated at $150 billion. The Dept. of Defense consumes 20 billion gallons of fuel which accounts for 80% of the government's entire fuel budget. Kingston said that it costs the Dept. of Defense $130 million for every $1 increase in the price of oil. The Dept of Defense has set goals to have 25% of its energy from renewable resources by 2025 and 50% of its aviation fuel from biofuel by 2016. In an interview following his speech, Rep. Kingston stated, "Sixty percent of the oil we use to fight the war in Afghanistan and Iraq is foreign oil so if we ever lost our fuel supply, we would die as a country." To view video of Congressman Kingston's address click on the video below.

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