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Governors' Biofuels Coalition
NEWS UPDATE July 16, 2020

Top Story

Biden Climate Plan Does Not Mention Biofuels, But Ethanol Groups See Potential

By Chris Clayton, DTN Ag Policy Editor  •    •  Posted July 15, 2020

Presumptive Democratic presidential nominee Joe Biden released details of his climate proposal, focusing heavily on spending $2 trillion on renewable energy infrastructure, which Biden said will create more than 1 million jobs. The plan released Tuesday delves into agriculture and conservation, but does not specifically mention biofuels such as ethanol as part of the renewable energy proposals. Still, trade associations for biofuel groups were encouraged by Biden’s overall plan going forward. [ read more … ]

Relief Legislation

Next Round of COVID-19 Aid

By Jerry Hagstrom, DTN Political Correspondent  •    •  Posted July 15, 2020

Senate Agriculture Appropriations Subcommittee Chairman John Hoeven, R-N.D., said Wednesday that he expects Congress to write another coronavirus aid package that includes agriculture “over the next weeks.” “We are working on it now,” Hoeven told North Dakota farm and ranch leaders on a virtual roundtable. “Things change and evolve,” he said, but “I anticipate by the first part of August we are going to have done something.”
[ read more … ]

Ethanol Producers Could See Economic Losses Near $10 Billion From COVID-19

By Todd Neeley, DTN Staff Reporter  •    •  Posted July 15, 2020

The ethanol industry in the United States has lost about $3.4 billion already in 2020 as a result of the COVID-19 economic shutdown, a new analysis from the Renewable Fuels Association said, with losses to continue to mount on into 2021. Though ethanol margins have been improving since the last of May, https://www.dtnpf.com/…, the industry is in a bit of a holding pattern waiting to see if the U.S. economy fully reopens. The RFA analysis said losses for the industry could deepen if states continue to open and close as a result of COVID-19 cases. [ read more … ]

CoBank: Ethanol industry will diversify in response to COVID-19

By Ethanol Producer Magazine  •    •  Posted July 15, 2020

A new report released by CoBank predicts that the COVID-19 pandemic will cause the ethanol industry to rationalize excess capacity and further diversify as 2021 fuel demand is not expected to fully rebound to pre-COVID-19 levels. CoBank’s Knowledge Exchange on July 10 published the quarterly report, which is focused on rural industries and the COVID-19 pandemic. [ read more … ]

Markets

Green Plains Alleges ADM Manipulation

By Todd Neeley, DTN Staff Reporter  •    •  Posted July 15, 2020

Omaha-based Green Plains Inc. alleges Archer Daniels Midland conducted a scheme to illegally depress the ethanol cash spot market beginning in November 2017, in a class-action lawsuit filed Monday in the U.S. District Court for the District of Nebraska in Lincoln.

ADM already faces a similar lawsuit in the U.S. District Court for the Central District of Illinois, where AOT Holding AG alleged ADM manipulated the market at the Argo, Illinois, terminal by flooding the fuel terminal with lower-priced ethanol starting in November 2017 through March 2019. [ read more … ]

Green Plains sues Archer Daniels Midland, alleging ethanol market manipulation

By P.J. Huffstutter, Reuters  •    •  Posted July 15, 2020

Green Plains Inc, one of the biggest U.S. ethanol producers, sued Archer Daniels Midland Co on Tuesday, accusing the global grain trader of manipulating the price of the biofuel to profit from its positions in the derivatives market. Green Plains filed the proposed class action with the U.S. District Court of Nebraska, where it also claimed that senior ADM officials knew of the alleged manipulation.
[ read more … ]

OPEC sees oil demand soaring in 2021 but still below 2019

By Dmitry Zhdannikov, Reuters  •    •  Posted July 15, 2020

Global oil demand will soar by a record 7 million barrels per day (bpd) in 2021 as the global economy recovers from the coronavirus crisis but will remain below 2019 levels, OPEC said in its monthly report. It was the first report in which OPEC assessed oil markets next year. It said the forecast assumed no further downside risks materialised in 2021 such as U.S.-China trade tensions, high debt levels or a second wave of coronavirus infections.
[ read more … ]

Campaign 2020

Biden, in new climate plan, embraces more aggressive steps

By Dino Grandoni, Washington Post  •    •  Posted July 15, 2020

Joe Biden unveiled a proposal Tuesday to transform the nation’s energy industry, pledging to eliminate carbon pollution from power plants by 2035 and spend $2 trillion to turbocharge the clean energy economy. The plan would significantly reduce the United States’ reliance on fossil fuels, and the 15-year timeline for a 100 percent clean electricity standard is far more ambitious than anything Biden has previously proposed. [ read more … ]

Policy & Politics

Burger King addresses climate change by changing cows’ diets

By Associated Press  •    •  Posted July 15, 2020

Burger King is staging an intervention with its cows. The chain has rebalanced the diet of some of the cows by adding lemon grass in a bid to limit bovine contributions to climate change. By tweaking their diet, Burger King said Tuesday that it believes it can reduce a cow’s daily methane emissions by about 33%. Cows emit methane as a by-product of their digestion, and that has become a potential public relations hurdle for major burger chains. [ read more … ]

Fossil fuels win big as nations dole out recovery funds

By Nathanial Gronewold, E&E News reporter  •    •  Posted July 15, 2020

The research coalition says it’s conducted the most detailed survey of post-COVID-19 economic recovery planning and spending to date. Its data shows governments of the Group of 20 largest economies have directed some $151 billion toward fossil fuel sectors. “Clean energy,” which the groups define as mainly wind and solar power but also hydropower, received some $89 billion in spending. [ read more … ]

EVs

Electric-Car Subsidies Make Renaults Free in Germany

By Elisa Miebach, Bloomberg  •    •  Posted July 15, 2020

Car buyers in Europe can now get their hands on a brand-new electric vehicle for less than the typical cost of a mobile-phone contract. Thanks to newly generous subsidies, some are even free. Shoppers have swarmed virtual showrooms in Germany and France — the region’s two largest passenger-car markets — after their national governments boosted electric-vehicle incentives to stimulate demand. Their purchase subsidies are now among the most favorable in the world, according to BloombergNEF. [ read more … ]

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