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Governors' Biofuels Coalition
NEWS UPDATE April 8, 2021

Top Story

Biden tax plan replaces U.S. fossil fuel subsidies with clean energy incentives

By Timothy Gardner, Reuters  •    •  Posted April 8, 2021

U.S. Treasury Secretary Janet Yellen on Wednesday released details of a tax hike proposal that would replace subsidies for fossil fuel companies with incentives for production of clean energy in President Joe Biden’s infrastructure planLinked to the $2.3 trillion infrastructure package, it is part of wider plan that includes boosting the corporate income tax rate from 21% to 28%. [ read more … ]

Relief

Klobuchar ready to work with USDA to get relief to biofuels producers

By Mark Dorenkamp, Brownfield  •    •  Posted April 8, 2021

U.S. Senator Amy Klobuchar has the ear of Ag Secretary Tom Vilsack as USDA finalizes plans to compensate biofuels producers impacted by the coronavirus pandemic. Late last year the Minnesota Democrat introduced the Renewable Fuel Feedstock Reimbursement Act alongside Iowa Republican Chuck Grassley. “And a provision is actually included in the December coronavirus relief package which gives the Secretary authority to make relief payments to renewable fuel producers who experienced market loss.” [ read more … ]

Markets

USDA: US ethanol exports reach 102 million gallons in February

By USDA  •    •  Posted April 8, 2021

The U.S. exported 101.67 million gallons of ethanol and 779,324 metric tons of distillers grains in February, according to data release by the USDA Foreign Agricultural Service on April 7. Exports of both products were down when compared both the previous month and February 2020. The 101.67 million gallons of U.S. ethanol exported in February was down from both the 164.63 million gallons exported the previous month and the 194.16 million gallons exported during February 2020.
[ read more … ]

EIA: US Ethanol Stocks Down as Demand at More Than 1-Year High

By DTN Staff  •    •  Posted April 8, 2021

Midwest PADD 2 ethanol blending activity slipped 5,000 bpd on the week, while at the Gulf Coast, demand eased 1,000 bpd. For the four weeks ended April 2, EIA reports PADD 2 blending activity 38,000 bpd above the year prior, while PADD 3 activity was up 16,000 bpd. Agency data show total ethanol supply last week dropped 472,000 bbl to 20.642 million bbl, the lowest level since the week ended Nov. 20, 2020, and 24% below the same week in 2020. [ read more … ]

EVs

Biofuels producers, farmers not sold on switch to electric

By Scott McFetridge, Associated Press  •    •  Posted April 8, 2021

The president and auto industry maintain the nation is on the cusp of a gigantic shift to electric vehicles and away from liquid-fueled cars, but biofuels producers and some of their supporters in Congress aren’t buying it. They argue that now is the time to increase sales of ethanol and biodiesel, not abandon them. To help address climate change, President Joe Biden has proposed an infrastructure plan that includes billions of dollars to pay for 500,000 electric vehicle charging stations, electrify public vehicles and enhance the nation’s power grid. These moves follow initiatives in California and other states to mandate electric vehicle sales and a goal by General Motors to shift production fully to electric vehicles by 2035. [ read more … ]

EV-Battery Rivals Prod Biden With Rare Trade Veto in Balance

By Susan Decker, Bloomberg  •    •  Posted April 8, 2021

Two of the world’s largest electric-vehicle battery makers have hired top Washington insiders to hold near-daily meetings with the Biden administration in a battle that could affect the electrification plans of Ford Motor Co. and Volkswagen AG. SK Innovation Co., Ford’s battery supplier for its upcoming electric F-150 pickup truck, faces a 10-year U.S. import ban on its Korean-made batteries and components after April 11. SK Innovation has engaged such well-connected advocates as former EPA chief Carol Browner and one-time Acting Attorney General Sally Yates to convince the administration to intervene. [ read more … ]

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