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Governors' Biofuels Coalition
NEWS UPDATE May 12, 2020

Top Story

Trump’s Corn Crisis Is Back

By Nick Cunningham, Oilprice.com  •    •  Posted May 11, 2020

A bipartisan group of two dozen U.S. Senators sent a letter to President Trump, urging him to reject the demands of the oil refining industry, which has called for exemptions to biofuel blending requirements.  It’s the latest chapter in a perennial war between ethanol producers, corn growers, and politicians from the Midwest on the one hand, and oil refiners and their allies from the Gulf Coast and Pennsylvania on the other.  [ read more … ]

Pandemic

Air pollution deaths fell by nearly a quarter because of lockdowns: Study

By Abby Smith, Washington Examiner  •    •  Posted May 11, 2020

Social distancing practices reduced monthly deaths from air pollution exposure by nearly a quarter, new economic research found. Declines in travel and electricity generation, due to shelter-in-place restrictions imposed by states to slow the spread of the coronavirus, are associated with 363 fewer premature deaths per month from air pollution exposure, according to a working paper circulated Monday by the National Bureau of Economic Research. [ read more … ]

GOP lawmakers accuse Wall Street of ‘discriminating’ against fossil fuels during coronavirus pandemic

By Dino Grandoni and Paulina Firozi, Washington Post  •    •  Posted May 11, 2020

Republican members of Congress are coming to the defense of oil, gas and coal companies they say face “discriminatory” lending practices from Wall Street banks that have caved to pressure from environmentalists. They are worried that oil and gas companies, suffering from the economic shockwaves of the coronavirus pandemic, are not getting their fair share of $2 trillion in stimulus funding because many of the big banks playing a part in distributing the funds have policies against lending to certain fossil fuel projects. [ read more … ]

Markets

Oil price boom expected following pandemic crash

By Josh Siegel, Washington Examiner  •    •  Posted May 11, 2020

If history is a guide, an oil price boom is coming after the pandemic-generated crash. While the near-term demand picture is highly uncertain, as people reconsider their travel and work habits, this latest bust, the worst of them all, is unlikely to hasten the demise of oil. [ read more … ]

Rockefeller heirs to Big Oil find dumping fossil fuels improved bottom line

By Steven Mufson, Washington Post  •    •  Posted May 11, 2020

Five years ago, members of the Rockefeller family walked away from the fossil fuels that made them rich, alarmed that burning oil and gas was causing climate change. Now it also seems like a smart financial move. The $1.1 billion Rockefeller Brothers Fund — largely free of oil and gas — has outpaced financial benchmarks, defying predictions of money managers. [ read more … ]

RFS Waiver Request

Midwest Mayors Press Wheeler to Reject RFS Waiver Requests

By Todd Neeley DTN Reporter  •    •  Posted May 12, 2020

A group of 70 mayors from towns and cities across ethanol-production country have asked EPA Administrator Andrew Wheeler to reject requests by states and others to waive the Renewable Fuel Standard requirements because of COVID-19, in a letter sent to the agency on Monday. The mayors from South Dakota, Nebraska, Wisconsin, Missouri, Minnesota, Iowa, Illinois, Indiana, Kansas and Colorado, said the closure of local ethanol plants has hurt their rural economies. [ read more … ]

Carbon Capture

Carbon capture group responds to IRS report

BY KELSEY TAMBORRINO, Politico  •    •  Posted May 11, 2020

 The Carbon Capture Coalition will send letters today to Treasury Secretary Steven Mnuchin and IRS Commissioner Charles Rettig, as well as New Jersey Sen. Bob Menendez addressing the recent IRS inspector general report that found nearly $900 million in claimed carbon capture tax credits over a decade failed to prove they successfully sequestered the carbon dioxide. [ read more … ]

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