In the face of increasing unrest in the Middle East and higher gas prices, the Senate Committee on Energy and Natural Resources met this morning to review Department of Energy (DOE) biofuel programs and biofuel infrastructure issues. In testimony before the committee, Renewable Fuels Association President and CEO Bob Dinneen stressed the importance of expanding the marketing for ethanol-blended fuels …
Ethanol Production Up, Demand Down
Ethanol production started the year strong, but demand is much weaker, according to the latest figures. The first monthly ethanol production data for 2011 shows continuing strong production numbers. According to the Energy Information Administration (EIA), monthly ethanol production for January 2011 was just over 920,000 barrels per day (b/d), or 1.2 billion gallons for the month. That’s up slightly …
Latest on E-xchange Blog
The Renewable Fuels Association (RFA) has been on a roll lately with a series of timely topical posts on the E-xchange blog. Who Gets Your Food Dollar? Matt Hartwig writes about the latest report from USDA’s Economic Research Service on the farmers’ share of the food dollar, which is now estimated to be less than 12%. “So, if the farm …
RFA Analyzes USDA Report for Ethanol
The Renewable Fuels Association (RFA) hosted a webinar this morning to discuss the new USDA Prospective Planting and Grain Stocks reports and what they indicate for America’s supply of corn and how demand from ethanol production might play into food pricing this year. Some of the main points made by RFA VP of Research and Analysis Geoff Cooper about the …
Corn Stocks are Down, Plantings Expected Higher
USDA expects more five percent more corn to be planted this year according to the Prospective Plantings report released this morning, but stocks are down 15% from last year at this time. Corn growers intend to plant 92.2 million acres of corn for all purposes this year, up 5 percent from last year and 7 percent higher than in 2009. …
Ethanol Group to Host Webinar on Plantings Report
The first big crop report of the season is due out on Thursday and the ethanol industry is ready to interpret what it means for them. Following the release of the U.S. Department of Agriculture’s prospective plantings forecast in the morning, the Renewable Fuels Association (RFA) will host a webinar to detail what the report means and how America’s supply …
RFA Says Ethanol Evolution Must Be Part of US Energy Future
As President Obama was preparing to outline his vision for America’s energy future in Washington this week, the president of the Renewable Fuels Association (RFA) sent a letter to Obama urging him to reaffirm his commitment to the continued evolution of America’s ethanol industry. In this “Ethanol Report” interview, RFA President and CEO Bob Dinneen notes that no other energy …
Grassley Hopes to Avoid Vote on Ethanol Tax Credit
Sen. Chuck Grassley (R-IA) is hoping to avoid a vote in the Senate on the amendment introduced last week by Sen. Tom Coburn (R-OK) that would repeal the Volumetric Ethanol Excise Tax Credit (VEETC). Grassley said today during his weekly agricultural media conference call that there are two ways the vote can be avoided. “Either talking him out of it, …
Speculation, Not Ethanol, Driving Corn Prices
Erratic behavior on the futures market for corn over the past few weeks is evidence that paper bushels, not ethanol, are driving corn prices, according to Renewable Fuels Association president and CEO Bob Dinneen. “Corn futures prices have tumbled by $1/bushel just since March 3, as huge index and hedge funds and other large speculators are pulling out of the …
Ethanol Interests Urge Defeat of VEETC Amendment
Legislation that would immediately repeal the Volumetric Ethanol Excise Tax Credit, or VEETC, is drawing criticism from ethanol interests. U.S. Senators Tom Coburn (R-OK) and Ben Cardin (D-MD) this week introduced the repeal as an amendment to the small business reauthorization bill, currently under consideration in the Senate. “The ethanol tax credit is bad economic policy, bad energy policy and …