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Governors' Biofuels Coalition
NEWS UPDATE March 17, 2021

Top Story

Carbon Capture Is Key to Companies’ Net Zero Pledges

By Rochelle Toplensky, Wall Street Journal  •    •  Posted March 17, 2021

Planting trees is a popular choice. Forests absorb CO2 from the atmosphere and certification is well established. But there are drawbacks. The gas is released if they are cut or burned down. Land also is a limited resource, making many goals unrealistic. Another widespread technique is carbon capture and storage, or CCS, where CO2 is removed from factory chimneys and pumped underground or stored in a solid form. The method has been around for decades, but until recently wasn’t widespread. The economics didn’t add up, partly because the carbon prices charged in Europe and the carbon-capture tax credit paid in the U.S. were too low. [ read more … ]

RFS

U.S. renewable fuel credits hit multi-year high as oil group urges EPA to act

By Stephanie Kelly, Reuters  •    •  Posted March 17, 2021

U.S. renewable fuel credits this week hit fresh multi-year highs, while an oil refining trade group urged the Biden administration to use its authority to help stabilize the market. Prices for so-called Renewable Identification Numbers, or RINs, have climbed all year as costs for feedstocks such as soybean oil increase and as market participants bet on reduced exemptions granted to oil refiners that would waive them from U.S. biofuel blending requirements. [ read more … ]

AFPM asks EPA to extend RFS compliance deadlines, trim 2021, ’22 RVO

By OPIS  •    •  Posted March 17, 2021

The American Fuel and Petrochemical Manufacturers (AFPM) on Monday urged EPA Administrator Michael Regan “to take prompt action” to extend the 2019 and 2020 Renewable Fuel Standard (RFS) compliance deadlines and propose 2021 and 2022 biofuel blending targets at levels below the 2019 and 2020 rules or run the risk that the Renewable Identification Number (RIN) bank may be exhausted. [ read more … ]

Biden Administration

New EPA Chief Michael Regan Vows Assault on Environmental Injustice

By Jennifer A Dlouhy and Stephen Lee, Bloomberg  •    •  Posted March 17, 2021

Michael Regan vowed to put environmental justice at the center of the EPA’s decision making during his first formal public appearance as the administrator of the agency. “Every person in the United States has the right to clean air, clean water and a healthier life no matter how much money they have in their pockets, the color of their skin or their zip code,” Regan said in an address to a conference of state regulators. “Yet too many Black, indigenous, Latinx and other people of color bear the highest burden of pollution.” [ read more … ]

Markets

Fire, explosions at Cornelius ethanol facility prompt evacuation

By Lizzy Acker andJaimie Ding, The Oregonian/OregonLive  •    •  Posted March 17, 2021

The flames erupted at the Summit Foods Inc. complex on North 4th Avenue, which also houses subsidiary Thunderbolt Racing Fuel, said Allen Shapiro, a distributor for the fuel company. Shapiro told The Oregonian/OregonLive he had been in contact with an employee of the company who told him everyone in the building had gotten out safe after the fire started. [ read more … ]

Oil Set for Longest Run of Losses in Six Months as Rally Wavers

By Alex Longley, Bloomberg  •    •  Posted March 17, 2021

Oil headed for its longest run on declines in over six months after the International Energy Agency said talk of an upcoming supply shortfall could be misleading. Futures in New York declined 0.9%. OPEC and its partners could quickly deploy their stalled production spare capacity to quash oil price rallies, the IEA said in its monthly report. Demand won’t return to pre-virus levels until 2023, the agency said in a separate report. [ read more … ]

FTC issues annual report on ethanol market concentration

By Erin Voegele, Ethanol Producer Magazine  •    •  Posted March 17, 2021

The Federal Trade Commission on March 3 issued its latest annual report on ethanol market concentration. As in previous reports, the FTC determined that “there is sufficient competition among industry participants to avoid price-setting and other anticompetitive behavior.” According to the report, ethanol production capacity increased to 17.8 billion gallons per year in 2020, up from 17 billion gallons in 2019. Actual production, however fell to 14.6 billion gallons, down from 16 billion gallons in 2019. [ read more … ]

EVs

Volkswagen Aims to Use Its Size to Head Off Tesla

By Jack Ewing, New York Times  •    •  Posted March 17, 2021

Volkswagen is going all in on electric cars, with plans to build battery factories in Europe, install a network of charging stations and slash the cost of emission-free travel. That was the message Monday as the German carmaker staged a so-called Power Day to showcase its latest electric car technology. The event was Volkswagen’s answer to Tesla’s Battery Day presentations, which draw intense attention from investors and electric car buffs. [ read more … ]

Manchin questions electric vehicle dependence in bid to clean up transportation

By James Osborne, Houston Chroncile  •    •  Posted March 17, 2021

Sen. Joe Manchin on Tuesday urged the adoption of not just electric vehicles but also hydrogen fuel cell technology, as the United States moves to clean up its transportation sector. In a hearing before the Senate Energy and Natural Resources Committee, which Manchin chairs, the West Virginia Democrat questioned the  the logic of depending too heavily of electric vehicles when the United States is so reliant on China and other nations for critical minerals used to make the lithium-ion batteries that power those vehicles.
[ read more … ]

Ford asks Congress for tax incentives to support electric vehicle development

By Riley Beggin, The Detroit News  •    •  Posted March 17, 2021

Leaders at Ford Motor Co. urged Congress Tuesday to increase tax incentives and other federal funding for electric vehicle technology. Additional federal help will be critical as the U.S. auto industry faces ongoing competition with Europe and China for the future EV market, said Jonathan Jennings, vice president for Global Commodity Purchasing and Supplier Technical Assistance at Ford. [ read more … ]

 

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