Please add the Governors' Biofuels Coalition to your address book for uninterrupted delivery
View this email in a web browser.
Governors' Biofuels Coalition
NEWS UPDATE July 22, 2020

Top Story

Grassley confident ag relief will be in final COVID-19 stimulus bill

By KMAland  •    •  Posted July 21, 2020

Senate Finance Chairman Chuck Grassley is confident there will be help for agriculture in what will likely be the last major pandemic stimulus bill. He’s confident that Congress could pass it soon, though Grassley is less confident of the amount. Grassley was asked about the American Farm Bureau’s request for up to $68 billion in Commodity Credit Corporation replenishment funds, plus more in direct producer aid. [ read more … ]

Relief Legislation

From cotton to hogs, agriculture groups seek billions more in coronavirus aid

By CQ Roll Call  •    •  Posted July 22, 2020

The Renewable Fuels Association released a July 15 report that the industry lost $3.4 billion in revenue from March through June because of COVID-19 economic disruptions that reduced driving and demand for transportation fuels. The association projected that losses could reach $7 billion in 2020 and $1.8 billion in 2021. Ethanol’s losses also reflect a blow to corn farmers who sell approximately 40 percent of U.S crops for fuel production. The association study said the industry used 500 million fewer bushels of corn during the March through June period. [ read more … ]

Farm, Rural, Nutrition Groups Make Case for More COVID-19 Aid

By Jerry Hagstrom, DTN Reporter  •    •  Posted July 21, 2020

As farm, rural and nutrition groups began mounting vigorous campaigns for inclusion of their priorities in a fourth coronavirus aid package, Treasury Secretary Steve Mnuchin said at a White House news conference today that he hopes a package will be passed by the end of this month. “We are committed that, by the end of this month, to make sure that before the enhanced unemployment insurance expires, that we pass legislation so that we can protect Americans that are unemployed,” Mnuchin said at a joint news conference with President Donald Trump, Senate Majority Leader Mitch McConnell, R-Ky., and House Minority Leader Kevin McCarthy, R-Calif. [ read more … ]

Markerts

The Corn And Energy Price Link Could Tighten As U.S. Election Looms

By Andy Hecht, Investing.Com  •    •  Posted July 21, 2020

Ethanol is a biofuel. In the United States, corn is the primary ingredient in the refining process. In Brazil, sugar cane is the input. The US is the world’s leading producer and exporter of corn, while Brazil is the top producer of free-market sugar. The two countries lead the world in ethanol output using excess agricultural commodity production. Over the past years, corn’s role in US ethanol production served two purposes. Increased demand for corn was supportive of US farmers. At the same time, an ethanol blend in gasoline is supposed to be environmentally friendly, and it reduced dependence on crude oil from the Middle East. [ read more … ]

Slumping US ethanol drags crush margin into single digits

By S&P Global  •    •  Posted July 21, 2020

The US ethanol crush margin on July 20 crumbled to 7.07 cents/gal, down by 27.34 cents since S&P Global Platts last published its crush margin tracker on July 13. The crush margin plunged due to sinking prices of Chicago Argo ethanol, which has been in a free-fall since Dec. 8.
[ read more … ]

EPA: 1.51 billion RINs generated in June

By Ethanol Producer Magazine  •    •  Posted July 21, 2020

The U.S. EPA has released updated renewable identification number (RIN) data showing that more than 1.51 billion RINs were generated under the Renewable Fuel Standard in June, bringing total RIN generation for the first half of 2020 to 8.52 billion. During the same period of 2019, total RIN generation reached 9.64 billion.  More than 41.87 million D3 cellulosic biofuel RINs were generated in June, including 31.68 million generated for compressed renewable natural gas (RNG) by domestic producers, 7.33 million generated for liquefied RNG by domestic producers, 1.73 million generated for compressed RNG by importers, 1.08 million generated for liquefied RNG by importers, and 57,226 generated for cellulosic ethanol by domestic producers. [ read more … ]

Policy & Politics

The Battle Over ‘Clean Energy’ Estimates

By Aman Azhar, Real News  •    •  Posted July 21, 2020

With 17% of US energy jobs gone in the first wave of the COVID-19 pandemic, a recent industry report suggests that over half a million ‘clean energy’ workers are unemployed despite nationwide efforts to jumpstart the economy. Released by BW Research in partnership with E2 and E4TheFuture, the research maps out the economic impact of the novel coronavirus on clean energy industries and recommends that congress incentivize job creation through “federal stimulus investments in three major sectors of the clean energy economy: Energy Efficiency, Renewable Energy, and Grid Modernization.” [ read more … ]

Climate Change

Climate Change Poses ‘Systemic Threat’ to the Economy, Big Investors Warn

By Christopher Flavelle, New York Times  •    •  Posted July 21, 2020

Climate change threatens to create turmoil in the financial markets, and the Federal Reserve and other regulators must act to avoid an economic disaster, according to a letter sent on Tuesday by a group of large investors. “The climate crisis poses a systemic threat to financial markets and the real economy, with significant disruptive consequences on asset valuations and our nation’s economic stability,” reads the letter, which was signed by more than three dozen pension plans, fund managers and other financial institutions that together manage almost $1 trillion in assets. [ read more … ]

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