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Governors' Biofuels Coalition
NEWS UPDATE August 2, 2019

Top Story

Trump Says U.S. Will Hit China With More Tariffs

By Alan Rappeport, New York Times  •    •  Posted August 2, 2019

President Trump escalated his trade war with China on Thursday, saying that the United States would impose a 10 percent tariff on an additional $300 billion worth of Chinese imports after China failed to keep its promise to buy more American agricultural products. Mr. Trump, who had agreed in June not to impose more tariffs while the two sides tried to reach a trade deal, said on Twitter that the new tariffs would go into effect on Sept. 1. Those new levies would be in addition to the 25 percent tariff that has already been imposed on $250 billion of imports and would essentially tax all Chinese products sent into the United States. [ read more … ]

Trade

Trump Adds Tariffs on China

By Chris Clayton, Progressive Farmer  •    •  Posted August 2, 2019

The U.S. will impose an additional 10% tariff on $300 billion in Chinese goods because China has not moved to buy large amounts of agricultural goods, President Donald Trump tweeted Thursday. The president increased the stakes of his trade war with China with a tweet at 11:26 a.m. CDT that his trade representatives “have just returned from China where they had constructive talks having to do with a future trade deal.” [ read more … ]

Forget Soybeans. ADM Signals Doom for Ethanol Without Trade Deal

By Mario Parker and Isis Almeida, Bloomberg  •    •  Posted August 2, 2019

One of the world’s biggest ethanol producers painted a grim picture for American-made biofuel, along with its own prospects, if Donald Trump’s trade war with China lingers much longer. Archer-Daniels-Midland Co. said Thursday that the main risk to its goal of matching earnings levels of last year is a continuation of the trade spat between the world’s two largest economies. Like U.S.-grown soybeans, ethanol — made primarily from corn and a revenue generator for farmers — faces steep tariffs in China. [ read more … ]

Policy & Politics

Archer Daniels Midland, Pacific Ethanol Hold Out Hope for Trade Deal With China

By Todd Neeley, Progressive Farmer  •    •  Posted August 2, 2019

Pacific Ethanol is looking to sell some of its ethanol plants as it continues to battle negative margins, company CEO Neil Koehler announced during an earnings call on Thursday. Koehler said the company is “actively engaged” in discussions to sell assets or form new business partnerships. Pacific Ethanol is one of two major ethanol companies to report losses on Thursday. Pacific Ethanol and Archer Daniels Midland said in separate earnings calls the U.S. reaching a trade deal with China would be huge for the industry in a persistent, negative-margin environment. [ read more … ]

Iowa ethanol plant temporarily shuts down amid ‘supply-demand imbalance’

By O. Kay Henderson, Radio Iowa  •    •  Posted August 2, 2019

A northwest Iowa ethanol plant suspended production this week “until further notice.” Plymouth Energy in Merrill is one of at least 10 ethanol plants in the country to temporarily shut down. Three others have closed. “A lot of the experts say we’ve got about a 10% overage of production and until that production comes off line, the economics aren’t going to improve,” Iowa Renewable Fuels Association executive director Monte Shaw told Radio Iowa. [ read more … ]

Moniz unveils ‘Green Real Deal’

By Kelsey Brugger, E&E News reporter  •    •  Posted August 2, 2019

In his first speech to the U.S. Chamber of Commerce, Moniz offered details of the framework that he first mentioned in an op-ed for CNBC with Emerson Collective Managing Partner Andy Karsner in March. At the time, Moniz wrote that a Green Real Deal would be based on “practicality, not ideology.” The plan — released yesterday by Moniz’s research nonprofit Energy Futures Initiative — lays out a road map to deeply decarbonize the economy by midcentury. His framework, built on principles like innovation and social equity, includes elements such as carbon pricing, regional plans, equitable transitions, supply chains and workforce. [ read more … ]

EPA Regional Administrator Talks Carbon Sequestration And Biofuels On South Dakota Tour

By WNAX  •    •  Posted August 2, 2019

EPA Regional Administrator Gregory Sopkin has been touring South Dakota looking at the future of biofuels, water quality and soil management practices and how the agency can support these efforts. He says there are opportunities for farmers to sequester carbon and monetize it such as selling low carbon biofuels in places like California. He thinks there is an opportunity for farmers to get credit or payment for carbon sequestration and soil health practices in the near future. [ read more … ]

 

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