Ethanol Growth Fund Is Good News For Farmers, Rural Communities And The Air We Breathe
$520 Million, 12-Year Fund Will Boost Ethanol Production In Ontario
QUEEN'S PARK -- A new $520-million, 12-year fund that will boost ethanol production in Ontario is good news for the air we breathe, farmers and rural communities, says Premier Dalton McGuinty.
"By supporting the production of ethanol fuel, we're helping our farmers, creating jobs in rural Ontario and moving forward with our plan to reduce greenhouse gases and the harmful emissions that cause smog," said Premier McGuinty.
"This fund will improve the air we breathe by encouraging the construction of ethanol plants to meet the growing demand for cleaner-burning fuels."
The McGuinty government is committed to reducing gas emissions by increasing the use of ethanol in gasoline. In November 2004, Ontario announced a Renewable Fuels Standard, requiring an average of five per cent ethanol in all gasoline sold in Ontario by January 1, 2007.
The Ontario Ethanol Growth Fund, announced today, provides:
- Capital assistance to help meet financial challenges
- Operating assistance to address changing market prices
- Support for independent retailers selling ethanol blends
- A research and development fund to pursue opportunities for research and innovation.
"We are committed to environmentally sustainable economic initiatives that will result in cleaner air across the province," said Environment Minister Leona Dombrowsky. "This program will be good for the environment and good for rural Ontario."
"Our government is demonstrating its deep commitment to both our agricultural sector and rural communities," said Minister of Agriculture and Food Steve Peters.
"The design of the growth fund will not only jump-start this industry by making capital grants available, but will also ensure a strong future by supporting research and development initiatives of benefit to the industry."
Later in the day, the Premier will be attending a groundbreaking ceremony for a new ethanol plant being built by Suncor Energy Inc. in Sarnia.