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Governors' Biofuels Coalition
NEWS UPDATE April 10, 2020

Top Story

USDA Working on Aid Package

By  Chris Clayton, DTN Ag Policy Editor  •    •  Posted April 10, 2020

The aid price tag from individual commodities is overwhelming the funds set aside for USDA, the chairman of the House Agriculture Committee pointed out Wednesday. Rep. Collin Peterson, D-Minn., held a telephone town-hall meeting about the coronavirus, taking an array of questions from rural residents that focused heavily on health care and agriculture. Pointing to challenges for agriculture, Peterson said cash corn prices in his district were below $2.85 per bushel and soybeans below $8 per bushel. “All of the commodities in agriculture are losing money. It’s a tough situation.” [ read more … ]

Market

Saudis, Russians End Oil-Price War With Deep Output Cut

By Javier Blas, Bloomberg  •    •  Posted April 9, 2020

Major oil producers agreed to slash output as feuding members of the OPEC+ coalition buried differences in an effort to lift the market from a pandemic-driven collapse. The Organization of Petroleum Exporting Countries and its allies, meeting by video conference on Thursday, now have the outline of a deal to cut production by 10 million barrels a day, delegates said. That reduction may continue for just two months, with smaller curbs lasting longer, they said. [ read more … ]

Pandemic

Inside clean energy’s coronavirus job crash

By David Ferris, E&E News reporter  •    •  Posted April 9, 2020

It was Wednesday, March 11, when life began to turn upside down for Lee Householder and his 42 employees at Project:Homes, a nonprofit that does energy efficiency retrofits in Virginia. The events of that day, like the National Basketball Association suspending its season and President Trump blocking travel from Europe, made the novel coronavirus very real and led workers to a crest of worry. They wanted to know the plan. The next day, March 12, “was a very chaotic day of scrambling,” Householder said. “How are we going to react?”
[ read more … ]

Off Topic

Pope salutes ‘saints next door’ in fight against coronavirus

By Harriet Sherwood, The Guardian  •    •  Posted April 9, 2020

The climate crisis had been forgotten in the focus on the pandemic, he said. “Who now speaks of the fires in Australia, or remembers that 18 months ago a boat could cross the North Pole because the glaciers had all melted? Who speaks now of the floods? I don’t know if these are the revenge of nature, but they are certainly nature’s responses.” [ read more … ]

Carbon Capture

Cargill-led fund to pay U.S. farmers for carbon capture, exchange credits

By Karl Plume, Reuters  •    •  Posted April 9, 2020

Global commodities trader Cargill Inc [CARG.UL] starting this spring will pay American farmers for capturing carbon in their field soils and cutting fertilizer runoff, an executive said.
The Soil & Water Outcomes Fund, a partnership with the Iowa Soybean Association and third-party verification company Quantified Ventures, will then sell the environmental credits created to polluters such as cities and companies, including Cargill itself, Ryan Sirolli, Director of Row Crop Sustainability at Cargill, told Reuters. [ read more … ]

EVs

Global EV sales will drop 43% in 2020 due to COVID-19, lower oil prices: WoodMac

By Robert Walton, Utility Dive  •    •  Posted April 9, 2020

Global sales of electric vehicles (EV) will drop 43% in 2020 due to the novel coronavirus pandemic and its financial impacts, according to new research from Wood Mackenzie.
In 2019 there were 2.2 million EVs sold, but the research firm expects just 1.3 million to be sold this year. However, WoodMac analysts say following a global recession this year, a strong rebound is possible in 2021 as nations employ stimulus measures to offset the virus’s impacts. [ read more … ]

 

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