New York | Reuters — U.S. merchant refiners have amassed up to a US$1.6 billion shortfall in the credits they will need to comply with U.S. biofuel laws, according to a Reuters review of corporate disclosures, an apparent bet that the Biden administration could let them off the hook or that credit prices will fall. […] Read more
U.S. refiners amass biofuel liability as Biden mulls relief
Open RIN positions could hit refiners' earnings
U.S. lawmakers to propose tax credit for sustainable aviation fuel
Fuel from plant oils, animal fats would qualify
New York | Reuters — U.S. lawmakers plan to introduce a bill on Thursday that would create a tax credit for lower-carbon sustainable aviation fuel, which they hope will slash emissions of greenhouse gases from the aviation industry. The legislation, seen by Reuters, would impose a tax incentive of up to US$2 for every gallon […] Read more
Some U.S. ethanol producers cut production to sell natural gas for profit
New York | Reuters — Sky-high U.S. natural gas prices have prompted some Midwestern ethanol producers to reduce processing in the last week, hoping instead to sell off some of their natural gas to take advantage of current high spot prices caused by the spike in cold weather, industry sources said. Ethanol margins in the […] Read more
U.S. oil industry seeks unusual alliance with Farm Belt against electric vehicle agenda
'We weren't born yesterday'
New York | Reuters — The U.S. oil industry is seeking to forge an alliance with the nation’s corn growers and biofuel producers to lobby against the Biden administration’s push for electric vehicles, but is so far meeting a cool reception, according to multiple sources familiar with the discussions. The effort marks an unusual attempt […] Read more
Trump administration mulls industry-wide biofuel waiver
Comment period would end after Trump's exit
New York | Reuters — The Trump administration is considering requests from the oil refining industry and its backers for a sweeping nationwide waiver to exempt them from their obligations to blend biofuels, a measure they argue would help them weather the economic impact of the coronavirus pandemic. U.S. President Donald Trump’s Environmental Protection Agency […] Read more
Biden transition team holds talks with biofuel groups -sources
New York | Reuters – U.S. President-elect Joe Biden’s transition team has held calls with biofuel groups on topics including compliance with U.S. biofuel blending laws and Biden’s low-carbon climate vision, according to two sources familiar with the conversations. The discussions with biofuel trade groups as well as POET, a top company in the cellulosic […] Read more
U.S. fuel industry frazzled as EPA misses biofuel volumes deadline
COVID-19 fallout complicates process
New York | Reuters — The U.S. Environmental Protection Agency was set to miss a deadline Monday to announce how much renewable fuel the nation’s refiners must blend into their fuel mix next year, raising uncertainty in the fuel market and prompting one biofuel association to threaten to take the agency to court. Under federal […] Read more
U.S. senators ask EPA not to boost refinery biofuel obligations in 2021
Reuters – A group of U.S. Republican senators asked the Environmental Protection Agency to consider a general waiver that would prevent an increase in biofuel blending obligations next year for oil refiners hit by a collapse in fuel demand because of the coronavirus pandemic. Senators including Shelley Moore Capito of West Virginia and Ted Cruz […] Read more
Trump’s EPA sides with farmers over refiners on biofuel waivers
New York | Reuters — The Trump administration said on Monday it rejected scores of requests from U.S. oil refiners for waivers that would have retroactively spared them from their obligation to blend biofuels like ethanol into their fuel, delivering a win for farmers and a blow to the oil industry just ahead of the […] Read more
COVID-19 spurs new clash between Big Oil, Big Corn
Flagging consumption leads to pressures on U.S. fuels, biofuels
New York | Reuters — A fuel demand meltdown caused by the coronavirus outbreak in the United States has started up a new fight between the oil and agriculture industries over the nation’s biofuel policy, this time over whether the policy should be suspended or expanded as a result of the crisis. The issue once […] Read more
Cyber-Savvy Farmer
