Blunt Ethanol Tour Visits Malta Bend Plant
"I think it's tremendous because that is certainly going to help us sell our product," he said, "and it should help us on price."
Gov. Blunt said Missouri farmers will feel the impact of the new standard within the first year.
"That's because, with each new ethanol plant built, the price of corn will rise anywhere from 5-15 cents per bushel," he said.
Before signing the bill Thursday, Blunt toured the Mid-Missouri Energy Ethanol Plant in Malta Bend and spoke with local farmers. Missouri is the fourth state to require an ethanol fuel standard, which Blunt called a progressive step.
"I think it demonstrates that Missouri is serious about being a leader in alternative fuels," the governor said.
Critics said making ethanol is too expensive, but Blunt said current technology keeps the cost competitive.
The new law lets gas stations stop selling ethanol-enriched fuel if the price rises above regular unleaded. All vehicles can use the 10% ethanol fuel, unlike E-85 that only works in flexible-fuel vehicles.