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Governors' Biofuels Coalition
NEWS UPDATE October 6, 2020

Top Story

Pelosi, Mnuchin Trade Stimulus Plans to Bridge Stubborn Divides

By Erik Wasson and Mike Dorning, Bloomberg News  •    •  Posted October 6, 2020

House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin will resume negotiations Tuesday on another round of pandemic relief for the U.S. economy yet there’s still no clear path to a deal before Election Day. Pelosi and Mnuchin have spoken regularly by phone over the past week after reviving talks with their first in-person meeting since early August on stimulus legislation. While both sides have reported progress, significant gaps remain between the Democrat’s $2.2 trillion proposal and a $1.6 trillion offer backed by the White House. [ read more … ]

Covid Relief Bill

HEROES Act II has $2.2 trillion in relief, including for rural America

By AgDaily  •    •  Posted October 5, 2020

“We were pleased to see the House once again prioritize assistance for the renewable fuels industry as part of its economic relief package. The Renewable Fuel Reimbursement Program included in the original HEROES ACT, and now part of the new legislation, represents a potential lifeline for the 350,000 men and women whose jobs depend on a healthy and vibrant ethanol industry. We greatly appreciate the efforts and leadership of all those in the House who understand that rural communities across the nation depend on the renewable fuels industry for job creation, economic vitality, and new market opportunities for farmers,” said Renewable Fuels Association President and CEO Geoff Cooper.
[ read more … ]

Pandemic

Ethanol Industry Takes Pandemic In Stride: Farm Country Knows Ethanol Is Here To Stay

By Scott Carpenter, Forbes  •    •  Posted October 5, 2020

Like other farmers in this part of north-central Illinois, Jeschke regularly receives text messages on his phone that alert him to the latest selling prices of corn, one of his two main crops alongside soybeans, at a local rail market that ships corn off to markets in the Southeast. And on this day, in the heat of COVID-19 shutdowns in late March, his phone never stopped buzzing with news of falling prices. [ read more … ]

Car Rule

California fires back at EPA

BY KELSEY TAMBORRINO, Politico  •    •  Posted October 5, 2020

California officials sent a scathing response to Administrator Andrew Wheeler’s criticisms of Gov. Gavin Newsom’s electric car executive order in a letter last week that said the agency engaged in “baseless mistruths” and accused it of abdicating its responsibilities to humanity. Wheeler sent a letter last week hinting that EPA would not approve California’s plan following Newsom’s order that would ban the sale of cars that burn gasoline or diesel by 2035. Wheeler’s letter also mocked the state’s recent electric grid reliability issues. [ read more … ]

Campaign 2020

Who would run Biden’s DOE?

By Lesley Clark and Hannah Northey, E&E News reporters  •    •  Posted October 5, 2020

“Cabinet picks are often made in order to tell a story about what kind of government you are going to lead,” said Jeff Navin, a former chief of staff at DOE under the Obama administration. “And with climate taking on a level of urgency that we haven’t seen before, you can expect the next Energy secretary to play a role in using the department to scale up solutions to climate change.” [ read more … ]

Biden incorrectly links derechos to climate change

By Thomas Frank, E&E News reporter  •    •  Posted October 5, 2020

Joe Biden drew attention to the little-known and often destructive weather phenomenon called a “derecho” at last week’s presidential debate but said mistakenly that they have been linked to climate change. The Democratic presidential nominee cited the derecho that demolished a wide swath of Iowa in August as evidence of the cost of a warming planet. [ read more … ]

Markets

Ethanol Margins Take Hit on Rising Corn

By  Todd Neeley, DTN Staff Reporter  •    •  Posted October 6, 2020

A sharply rising corn price paid by Neeley Biofuels’ hypothetical ethanol plant on Monday took a bite out of the plant’s profit margin since DTN’s last update on Aug. 14. The 50-million-gallon plant in South Dakota paid $3.79 per bushel for corn on Monday, a spike from $3.25 paid in the middle of August based on the October futures price on the Chicago Board of Trade.
As a result, the plant’s net-profit margin fell from a 9.4-cent-per-gallon profit to a 7.6-cent loss. During the height of the COVID-19 economic shutdown, Neeley Biofuels reported a 16.1-cent loss. [ read more … ]

Energy markets shrug at Trump diagnosis

By Lesley Clark and Mike Lee, E&E News reporters  •    •  Posted October 5, 2020

“As with national security and other areas of policymaking, I think energy policy and environmental policy will proceed on pace despite the president’s COVID diagnosis,” said Bob McNally, a former energy adviser to George W. Bush and founder of oil consultancy Rapidan Energy Group. While Trump’s COVID-19 diagnosis may not affect day-to-day business, it could play a significant role in an election McNally called “the most important election for energy policy in modern times, if not in all U.S. history.” Trump and Democratic challenger Joe Biden, he noted, present “diametrically opposed and portentous differences on energy and environmental policy.”
[ read more … ]

Most U.S. Oil Jobs Lost in Pandemic Won’t Return at These Prices

By Katrina Lewis, Bloomberg  •    •  Posted October 5, 2020

Almost three-quarters of the pandemic-driven jobs losses in the U.S. petroleum and chemical sectors may not come back before the end of next year, according to Deloitte LLP. The collapse in oil demand and prices spurred the fastest rate of oil- and chemical-industry layoffs in history, with about 107,000 jobs eliminated between March and August, Deloitte said in a study scheduled to be released Monday. The number is probably even higher when furloughs and other headcount measures are taken into account, according to Duane Dickson, vice chairman and U.S. oil, gas and chemicals leader for Deloitte. [ read more … ]

Note: News clips provided do not necessarily reflect the views of coalition or its member governors.