My Weekly Column
In 2019, the United States became energy independent for the first time in 62 years – a major milestone for our nation’s energy and national security. That same year, according to the Energy Information Administration (EIA), the price of a gallon of gasoline averaged $2.60 nationwide and just $2.49 in the Midwest while household electricity bills averaged $115 for American families.
Quantum computing is an intangible phenomenon that often elicits images of supercomputers and spaceships. However, the world of quantum is vast, and its potential is unlimited, particularly for our rural communities and main street businesses.
Every five years, Congress reauthorizes the Agriculture Improvement Act – better known as the Farm Bill – to protect the productivity, profitability, and international competitiveness of American agriculture. As the second largest agriculture-producing district in the nation, I am working to ensure that every farmer, producer, and agricultural stakeholder in Iowa has a seat at the table when the Farm Bill is negotiated and eventually signed into law.
Domestic energy production – particularly ethanol and biodiesel – is critical to Iowa’s economy and our national security. In Iowa, our biofuels industry supports roughly 57,000 jobs and generates $7.2 billion towards our GDP. Iowa is also home to 42 ethanol plants and 11 biodiesel facilities, which respectively produce 4.7 billion gallons of ethanol and 410 million gallons of biodiesel annually.
As the second largest exporter of agricultural goods in the nation, trade is vital to our economy in Iowa. 415,000 jobs are supported by trade in our state, and in 2018, Iowa exported roughly $14.4 billion in goods and services. As such, our farmers, producers, manufacturers, and agricultural community rely on strong trade agreements that open foreign markets and maintain our global competitiveness.
Agriculture is the economic engine of our state and the backbone of our thriving main streets. It generates billions in economic activity and supports thousands of jobs. That’s why, last week, I officially launched my Feenstra Agriculture Tour to hear directly from our farmers, producers, and agricultural community about their suggestions to protect the productivity of Iowa agriculture and their priorities for the upcoming Farm Bill reauthorization.
Over the last few years, Iowa families and farmers have been forced to empty their wallets at the gas station as fuel costs soared nationwide. Between federal restrictions on domestic energy production and record inflation, the average price of gas eclipsed nearly five dollars last summer, draining family budgets and stretching paychecks thin. Fortunately, in Iowa, we have a homegrown solution to meet our energy needs: E-15.
China represents the greatest threat to our national, economic, energy, and food security. From buying up American farmland to stonewalling investigations into the origins of the COVID-19 pandemic, China cannot be trusted.
In the United States, we are blessed with an abundant supply of energy – from ethanol and biodiesel to natural gas and oil – to power our nation and fuel our economy. Regrettably, just months ago, President Biden sold oil from our reserves to China to compensate for his war on American energy production. No price, no matter how high, justifies supplying China with American-made energy.