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27 Apr 2009

Environmental Defense Fund Commends New Calif. Hedge Against Higher Fuel Prices

The California Air Resources Board has adopted the world's first Low Carbon Fuel Standard (LCFS), once implemented it can dramatically reduce the environmental impact of transportation, the Environmental Defense Fund says.

The Environmental Defense Fund believes the standard is an important hedge against higher, future conventional fuel prices. By helping develop better and cheaper alternative fuel production methods, low carbon fuels will become increasingly more affordable than gasoline as increasing crude oil prices take hold, the fund believes.

"While achieving the 2020 goal will require expenditures, this measure is an investment that will yield extensive returns through fuel diversification, increased resilience to fuel price fluctuations, independence from foreign fuel sources, and development of emerging businesses."

The low-carbon fuel standard is an important tool to help California transform its fuel mix. When coupled with an economy wide cap on emissions that includes the transportation sector, the California Low Carbon Fuel Standard represents the ultimately cost effective and technologically feasible way to transform our transportation sector and meet carbon reduction goals.

Environmental Defense Fund, a leading national nonprofit organization, represents more than 500,000 members. Since 1967, Environmental Defense Fund has linked science, economics, law and innovative private-sector partnerships to create breakthrough solutions to the most serious environmental problems.

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