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Governors' Biofuels Coalition
NEWS UPDATE March 1, 2021

Top Story

Co-op to SCOTUS: Closure Without SREs

By Todd Neeley, DTN Staff Reporter  •    •  Posted February 28, 2021

Its very business would be threatened if it is unable to receive exemptions from the Renewable Fuel Standard, a farmer-owned cooperative told the Supreme Court in a brief filed on Friday in an upcoming case that could determine the fate of the small-refinery exemption program. CountryMark operates in Indiana, Illinois, Michigan, Ohio and Kentucky. Most of its customers at more than 100 retail stations are farmers and rural communities that have benefitted from the commodities markets bolstered by the RFS since 2005. [ read more … ]

Biden Administration

New Energy Secretary Jennifer Granholm has advice for Texas — and for the oil industry

By Will Englund, Washington Post  •    •  Posted February 28, 2021

Oil companies are now diversifying to be energy companies rather than oil and gas companies. I think Chevron just announced … that it was going to be investing $300 million in a fund to advance low-carbon technologies. So that’s a super important piece of an opportunity for them. But clearly, it’s going to be up to them to be more responsive to this. They could be investing in battery technology. They could be investing, obviously, in biofuels, which is different. [ read more … ]

Former Michigan Gov. Granholm confirmed as energy secretary

By Matthew Daly, Alexandra Jaffe, Ricardo Alonso-Zaldivar and Paul Wiseman, Associated Press  •    •  Posted February 28, 2021

Former Michigan Gov. Jennifer Granholm won Senate confirmation Thursday to be energy secretary, joining President Joe Biden’s Cabinet as a leader of Biden’s effort to build a green economy as the United States moves to slow climate change. The vote was 64-35, with all Democrats and 14 Republicans, including GOP leader Mitch McConnell of Kentucky, voting yes. [ read more … ]

Climate

Farmers say they can do more on climate — if Congress helps

By Marc Heller, E&E News reporter  •    •  Posted February 28, 2021

Farmers are standing on one solution to climate change — the soil under their feet — but need more incentives from Washington to put it to work as a carbon sink, witnesses told the House Agriculture Committee yesterday. In the panel’s first hearing on the issue in the new Congress, lawmakers heard from a Weather Channel celebrity and a North Dakota farmer who’s boosted production while protecting the environment through conservation measures — and they took cautionary notes about how best to craft any programs to reduce agriculture’s contribution to the warming climate. [ read more … ]

Markets

United Kingdom to Expand Ethanol Blends from E5 to E10 by September

By Todd Neeley, DTN Staff Reporter  •    •  Posted February 28, 2021

The United Kingdom will require all gasoline to contain 10% ethanol by September, as part of a move toward cutting greenhouse gas emissions in the country. Gasoline in the UK currently is a 5% ethanol blend. “Following a consultation with drivers and industry, the introduction of E10 fuel, which is a mixture of petrol and ethanol made from materials including low-grade grains, sugars and waste wood, will boost the government’s ambitions to reach net zero by 2050,” the U.K. government said in a news release.
[ read more … ]

Ethanol, biomass-based diesel RIN prices approach all-time highs

By U.S. Energy Information Administration  •    •  Posted February 28, 2021

The prices of renewable identification number (RIN) credits—the compliance mechanisms used for the Renewable Fuel Standard program administered by the U.S. EPA—have been steadily rising in recent months and are approaching their highest nominal levels in the history of the program. Renewable fuel producers generate RINs that obligated parties, including refiners and importers of gasoline or diesel, obtain and then ultimately retire for compliance. Market participants can trade RINs, and this trading creates prices that the U.S. Energy Information Administration tracks. [ read more … ]

Whispers of $100 oil return as crude shakes off COVID’s clasp

By Ben Sharples, Bloomberg  •    •  Posted February 28, 2021

While oil’s dizzying collapse is still fresh for many traders, rumblings are starting to emerge that by the end of next year prices could once again top $100 a barrel. Azerbaijan’s Socar Trading predicts that global benchmark Brent could hit triple digits in the next 18 to 24 months, and Bank of America sees potential spikes above $100 over the next few years on improving fundamentals and global stimulus. Speculators are also getting in on the action, increasing bets in the options market that oil will reach the vaunted level by December 2022. [ read more … ]

EVs

EVs Are More Expensive Than Traditional Cars—But Not by Much

By Nathaniel Bullard, Bloomberg  •    •  Posted February 28, 2021

Last week, I engaged in a thought experiment about the future of the American gas station once electric vehicles take over the road. My conclusion: the big highway rest stop is probably OK, as is the urban fuel oasis; it’s the suburban gas station that may be turning into something else. That experiment didn’t address how those EVs will actually get on the road, however — that is, who’ll buy them and why?
[ read more … ]

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