Managers at 150 U.S. biofuel refineries across the heartland have sent a letter to President Donald Trump, urging him to “stand strong in defense of the Renewable Fuel Standard (RFS).” The plant managers, which represent the majority of U.S. ethanol production, address proposals by oil refinery supporters to “cut, cap, or eliminate” Renewable Identification Numbers (RINs), which they say “would …
Study Shows Impact of RIN Price Cap on Corn Prices
A new analysis from the Center for Agricultural and Rural Development (CARD) at Iowa State University shows that any action to artificially cap Renewable Identification Number (RIN) prices in exchange for a waiver allowing year-round sale of E15 would result in reduced ethanol consumption, a drop in corn prices, and an effective cut of 5% to the Renewable Fuel Standard …
Ethanol Report on RINs in the White House
President Donald Trump has been meeting with stakeholders in the biofuels and refinery industries to find a way to lower Renewable Identification Number (RIN) prices that is acceptable to both sides. Two main options are a cap on RIN prices, or allowing year round sales of E15, or some combination of both. In this edition of The Ethanol Report, we …
Biodiesel No Problem in RFS Talks
Of those Renewable Fuel Standard (RFS) stakeholders at last week’s White House meeting, only Renewable Energy Group, Inc. President and CEO Randy Howard walked out feeling like his industry was safe. Howard, who joined other top biofuel company executives who met with the President, Vice President Pence, EPA Administrator Scott Pruitt, and some petroleum refiners to discuss the RFS, says …
Perdue Answers RINs Question During Town Hall
U.S. Secretary of Agriculture Sonny Perdue held a town hall on the main stage in the Commodity Classic Trade Show Thursday and answered some questions from a few of the hundreds of farmers who gathered to watch and listen. Former National Corn Growers Association president Pam Johnson of Iowa wanted to know specifically if the secretary supported a cap on …
Study Finds RIN Cap Would Devastate Biofuels
A new analysis by University of Illinois economist Scott Irwin finds that the impact of a 10-cent cap on RIN prices, as proposed by Texas Sen. Ted Cruz, would be “catastrophic” for the renewable fuels industry. Specifically, such a price cap would serve as the mortar in the oil industry’s attempt to rebuild the “blend wall.” Irwin finds that “…the …
Perdue Pledges “Unequivocal” Support for RFS
A lot of drama and speculation preceded the appearance of Agriculture Secretary Sonny Perdue at Commodity Classic, thanks to some reports questioning his support for the Renewable Fuel Standard (RFS), so he wasted no time in stating his “unequivocal” support for the law. “I have not and will not support any policies in this country that diminish the demand, undermine …
Northey Confirmed But No White House Deal on RFS
Bill Northey is at last free to take the job at USDA that he was nominated for almost six months ago after Sen. Ted Cruz (R-TX) lifted his hold on the nomination and allowed the confirmation Tuesday. The Senate confirmed Northey on a voice vote to become USDA’s undersecretary for farm production and conservation as Sens. Cruz, Pat Toomey (R-PA), …
Industry Groups Anxious About White House RFS Meeting
Biofuels and agricultural groups are anxiously awaiting the outcome of a meeting today between President Trump and four Republicans senators over the Renewable Fuel Standard (RFS) Trump will be meeting with Sens. Ted Cruz (R-TX) and Pat Toomey (R-PA), who want to see changes in the RFS to protect refiners, and Iowa Sens. Charles Grassley and Joni Ernst, who want …
New Analysis Shows RIN Prices Could Fall
A new analysis from the University of Illinois shows conditions that caused high conventional biofuel (D6) RIN prices are changing rapidly and that “…it is not out of the realm of possibility for D6 RINs prices to fall back their pre-2013 level of just a few cents without making any changes to the RFS.” According to a release from the …