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Governors' Biofuels Coalition
NEWS UPDATE June 24, 2020

Top Story

With losses mounting, Iowa farmers, ag groups hope congressional leaders provide additional coronavirus aid

By Donnelle Eller, Des Moines Register  •    •  Posted June 23, 2020

Tim Burrack thought a month ago he’d have to destroy hundreds of pigs he was unable to get processed after thousands of front-line meatpacking workers became sick with the coronavirus, forcing plants in Iowa and the Midwest to temporarily shutter. “It was a pretty damn dark time,” said Burrack, an independent northeast Iowa pork producer, who recently sent the last of the 25,000 pigs he had at the start of the coronavirus outbreak to a meatpacking plant. [ read more … ]

Markets

The Ethanol Sector’s Recovery Gains Steam, But Coronavirus Headwinds Persist

By Tristan R. Brown, Seeking Alpha  •    •  Posted June 23, 2020

Ethanol producers’ share prices have largely recovered to the levels at which they traded shortly before coronavirus-related lockdown orders went into effect in the U.S. Ethanol production margins have made a full recovery and are approaching 3-year highs. Ethanol demand has rebounded, but the recovery has been incomplete as gasoline demand has remained below its normal weekly volumes. [ read more … ]

EPA: 1.26 billion RINs generated in May

By Ethanol Producer Magazine  •    •  Posted June 23, 2020

The U.S. EPA has released renewable identification number (RIN) generation data for May, reporting that nearly 1.26 billion RINs were generated under the Renewable Fuel Standard during the month, down from 1.72 billion generated during the same month of 2019. RIN generation was up slightly from April, however, when only 1.05 billion RINs were generated as falling fuel demand caused by the COVID-19 pandemic caused many biofuel producers to idle or slow production. [ read more … ]

Policy & Politics

Amazon to Launch $2 Billion Venture Capital Fund to Invest in Clean Energy

By Dana Mattioli, Wall Street Journal  •    •  Posted June 23, 2020

Amazon. AMZN 2.17% com Inc. is launching a $2 billion internal venture-capital fund focused on technology investments to reduce the impact of climate change, the latest sustainability initiative from the technology giant after criticism of its environmental record. The new fund, which will be called The Climate Pledge Fund, will invest in companies across a number of industries, including transportation, energy generation, battery storage, manufacturing and food and agriculture, according to the company. The aim is to help Amazon and other companies reach a goal of “net zero” carbon emissions by 2040. Amazon and a number of other companies are seeking to reduce the climate impact of their operations, both through reduced use of fossil fuels and investments in projects such as reforestation. [ read more … ]

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