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Governors' Biofuels Coalition
NEWS UPDATE March 10, 2020

Top Story

Oil’s Epic Crash Reminds Farmers They’re Also Energy Traders

By Isis Almeida , Michael Hirtzer, and Jen Skerritt, Bloomberg  •    •  Posted March 9, 2020

As oil suffers its steepest plunge since the Gulf War in 1991 and the coronavirus spreads across the globe, agriculture markets are feeling the pinch. Sugar tumbled as much as 6.5%, palm oil fell 11% and European rapeseed lost more than 3%. Shares of U.S. ethanol maker Green Plains Inc. tumbled the most since 2008 and fertilizer giant Nutrien Ltd. hit a record low.
[ read more … ]

Oil crashes as crude producers brawl and coronavirus spreads

By Mike Lee and Hannah Northey, with contributions from Carlos Anchondo, Lesley Clark, Jeremy Dillon and the Associated Press.  •    •  Posted March 9, 2020

“The immediate outlook for the oil market will ultimately depend on how quickly governments move to contain the coronavirus outbreak, how successful their efforts are, and what lingering impact the global health crisis has on economic activity,” the IEA said in a statement. The long-term impact on American energy and climate policy is unclear as experts are struggle to figure out how long the decline will last. Some analysts are expressing concern that U.S. shale producers could be hard hit. [ read more … ]

SREs

Trump Seeks Time to Consider Appeal in Biofuel Case

By Jennifer A Dlouhy, Bloomberg  •    •  Posted March 10, 2020

The Trump administration is asking a federal court for 15 additional days to consider a possible appeal in a case threatening its ability to widely exempt oil refineries from biofuel-blending requirements. In a filing late Friday with the U.S. Court of Appeals for the Tenth Circuit, the Justice Department said more time is needed because the Jan. 24 ruling conflicts with the Environmental Protection Agency’s practice of issuing waivers under the Renewable Fuel Standard program. [ read more … ]

DOJ Asks Court For Extension on RFS Small-Refinery Exemptions Case

By Todd Neeley, Progressive Farmer  •    •  Posted March 9, 2020

The Trump administration has asked a federal court for an extension of the Monday deadline for making changes to the small-refinery exemptions program, two days after reports surfaced EPA was going to challenge what was a court victory for biofuels and agricultural interests on Jan. 24, 2020. In a court filing in the U.S. Court of Appeals for the 10th Circuit in Denver filed late on Friday night, the U.S. Department of Justice asked for a two-week extension to consider what could be a major change to the Renewable Fuel Standard. [ read more … ]

Market

Ethanol makers see demand surge on hand sanitizer stockpiling

By Stephanie Kelly, Reuters  •    •  Posted March 10, 2020

Some ethanol producers worldwide said demand is up for their products due to customers stockpiling hand sanitizer – which can be made using the biofuel – as the coronavirus outbreak worsens. The coronavirus has infected more than 110,000 people in 105 countries and territories and 3,800 have died, according to a Reuters tally. Governments and health agencies have advised people to wash their hands and use hand sanitizer to curb the virus’s spread, prompting an increase in demand for ethanol, also known as ethyl alcohol, industrial alcohol and denatured alcohol, used to make many hand sanitizers. [ read more … ]

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