Ten years ago, Dec. 19, President George W. Bush signed into law the Energy Independence and Security Act, greatly expanding the scope and impact of the Renewable Fuel Standard (RFS). In the decade since passage, significant progress has been made towards greater energy security, cleaner air and boosting local economies, according to a new analysis by the Renewable Fuels Association, …
Cruz Proposes Renewable Fuel Credit Cap
Senator Ted Cruz of Texas is proposing to cap the price of renewable fuel credits purchased by refiners at 10 cents, a mere fraction of the current market value. Prices of renewable fuel credits were trading at roughly 70 cents last week. The credits had been trading at 90 cents each at the end of November. Cruz is making the …
Northey Nomination Still on Hold
The nomination of Bill Northey to a top Department of Agriculture post remains on hold following a White House meeting on the Renewable Fuels Standard. The meeting, requested by Texas Republican Senator Ted Cruz, offered no major breakthroughs regarding what Cruz wants to change in the RFS. Cruz told Politico he is still holding up the vote to confirm Northey, …
Oil and Ethanol Supporters Get Together to Talk RFS
The White House is hoping to play mediator between the oil and ethanol industries as it brought together Wednesday (12/13/17) for a preliminary discussion on the Renewable Fuels Standard. Refiners say they can’t afford the RFS compliance costs. The biofuels industry insists it has to have the mandates in the RFS to keep expanding and growing biofuels. Senators Chuck Grassley, …
UF/IFAS-Developed Sorghum Cultivars Can Produce Thousands of Gallons of Ethanol
Sweet sorghum is not just for breakfast anymore. Although sorghum is a source for table syrup, scientists see a future in which we convert sorghum to biofuel, rather than relying on fossil fuel. That potential just grew as University of Florida researchers found three UF/IFAS-developed sorghum varieties could produce up to 1,000 gallons of ethanol per acre. “Sweet sorghum has …
China Needs More Corn to Meet Fuel Mandate
To meet a fuel blend requirement, China must import more corn, according to industry analysts. A Stewart Peterson advisor tells Farm Journal’s AgDay that China will need to import “an additional billion bushels of corn a year” to meet the mandate. Earlier this year, China announced the nation would require ethanol blends in all fuel by 2020. Demand is growing …
War Between Ethanol Backers – Oil Supporters in Congress Heating Up
The war between Ethanol backers and Oil supporters in Congress is heating up. But, one Midwest lawmaker claims the other side has already lost “leverage” due to timing. Ag Senator Chuck Grassley admits Texas oil-patch Senator Ted Cruz will get his meeting with President Trump to discuss overhauling the Renewable Fuel Standard. Cruz was blocking Senate confirmation of Iowa Ag …
International Trade Commission Votes 4-0 in Support of the Biodiesel Industry
A vote by the International Trade Commission confirms the U.S. biodiesel industry has suffered because of unfairly subsidized imports of biodiesel from Argentina and Indonesia. In a case filed by the National Biodiesel Board, the Commission voted 4-0 Tuesday. NBB called the vote “important progress” to addressing the trade issue. Last month, producers testified on the volume and price effects …
Trump to Meet with Cruz, Oil Industry, Regarding RFS
Senator Ted Cruz will get his meeting with President Donald Trump regarding biofuels. Reuters reports that Trump has agreed to meet with Cruz and representatives from the oil refining industry to discuss the Renewable Fuel Standard. The White House says the discussion could set the stage for negotiations over possible legislation to overhaul the RFS. Cruz has blocked the confirmation …
New Tax Regulations Could Be a Boost for Farm Commodities
The Environmental Protection Agency Thursday finalized a rule that establishes the required renewable fuel volumes under the Renewable Fuels Standard program for 2018 and biomass-based diesel for 2019. The agency set a total renewable fuel blending obligation of 19.29 billion gallons next year, maintaining the statutory requirement of 15 billion gallons of conventional biofuel such as corn-based ethanol and 4.29 …