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Governors' Biofuels Coalition
NEWS UPDATE May 13, 2021

Top Story

U.S. has entered unprecedented climate territory, EPA warns

By Dino Grandoni and Brady Dennis, Washington Post  •    •  Posted May 13, 2021

“We want to reach people in every corner of this country because there is no small town, big city or rural community that’s unaffected by the climate crisis,” Regan told reporters Wednesday. “Americans are seeing and feeling the impacts up close with increasing regularity.” EPA staffers said the data detail how the nation has entered unprecedented territory, in which climate effects are more visible, changing faster and becoming more extreme. Collectively, the indicators present “multiple lines of evidence that climate change is occurring now and here in the U.S., affecting public health and the environment,” the agency said. [ read more … ]

Colonial Pipeline

Colonial Pipeline Paid Hackers Nearly $5 Million in Ransom

By William Turton and Michael Riley, Bloomberg  •    •  Posted May 13, 2021

Colonial Pipeline Co. paid nearly $5 million to Eastern European hackers on Friday, contradicting reports earlier this week that the company had no intention of paying an extortion fee to help restore the country’s largest fuel pipeline, according to two people familiar with the transaction. The company paid the hefty ransom in untraceable cryptocurrency within hours after the attack, underscoring the immense pressure faced by the Georgia-based operator to get gasoline and jet fuel flowing again to major cities along the Eastern Seaboard, those people sai [ read more … ]

Gasoline Prices Hit $3 as Shortages Grow on Pipeline Outage

By Jeffrey Bair and Jill R Shah, Bloomberg  •    •  Posted May 13, 2021

Gasoline stations and terminals from Florida to New Jersey are running dry as shortages worsen five days into the shutdown of the biggest U.S. fuel pipeline. As the Colonial Pipeline system — hit by a cyberattack and forced to shut on May 7 — struggles to recover, fuel terminals are being drained. In parts of the U.S. South, three in every four gas stations have run dry, while in Washington, D.C., cars are lined up for blocks as they wait to fill up. U.S. pump prices have topped $3 a gallon for the first time in six years. [ read more … ]

Biden Administration

Biden Administration to Repeal Trump Rule Aimed at Curbing E.P.A.’s Power

By Lisa Friedman, New York Times  •    •  Posted May 13, 2021

The Biden administration on Thursday moved to repeal a Trump-era regulation that it said weakened the government’s ability to curb air pollution that threatens public health and is driving climate change. Critics said the regulation distorted the costs of reducing air pollution while diminishing the associated benefits. It is one of several Trump administration policies that have been reversed by Michael S. Regan since he became the administrator of the Environmental Protection Agency in March.
[ read more … ]

Markets

Exclusive: Biofuels processor POET in talks to acquire Flint Hills’ ethanol assets – companies

By Stephanie Kelly, Reuters  •    •  Posted May 13, 2021

POET, the largest biofuels producer in the United States, is in discussions with Flint Hills Resources to acquire the entirety of Flint Hills’ ethanol assets, both companies told Reuters on Thursday. The deal would increase POET’s potential production capacity for ethanol by more than a third to 3 billion gallons per year, said Jessica Sexe, a spokeswoman for POET. Corn oil can also be used to make renewable diesel. Investments to make renewable diesel have surged over the last year and have set off a scramble to find feedstock.
[ read more … ]

Domestic demand to pressure U.S. corn, soy, wheat stocks as exports fade

By Mark Weinraub, Reuters  •    •  Posted May 13, 2021

Strong domestic demand will keep U.S. stockpiles of corn and soybeans near seven-year lows even after farmers harvest the crops they are currently seeding, the government said on Wednesday. The stocks estimates were in line with market expectations but the report showed that the recent gains in ag commodities, highlighted by soybean futures’ rally to a nearly nine-year high this week, are likely to continue. [ read more … ]

EIA: US Ethanol Stocks Slide to Better-Than-4-Year Low

By DTN Staff  •    •  Posted May 13, 2021

Energy Information Administration data released Wednesday, May 12, show domestic ethanol inventories tumbled to their lowest level in over 52 months during the week ended May 7 even as production reached a five-month high while demand nudged higher. Agency data show total ethanol inventories dropped 1.047 million barrels (bbl) to 19.393 million bbl in the week ended May 7, the lowest level since the final week of December 2016 when stocks totaled 18.678 million bbl. [ read more … ]

State Initiatives

Some Iowa groups oppose E-15 fuel mandate

By KCCI  •    •  Posted May 13, 2021

A new effort is underway to try to stop Gov. Kim Reynolds’ proposed fuel mandate from becoming law. The measure would require E-15 to be sold at every gas station in the state starting in 2026. Opposition groups are plastering stickers on pumps at gas stations. They say the legislation would result in higher gas prices. [ read more … ]

EVs

Bottom Drops Out of the Red-Hot Market for Electric Vehicle Start-Ups

By Neal E. Boudette and Matthew Goldstein, New York Times  •    •  Posted May 13, 2021

Lordstown Motors is one of a dozen electric vehicle start-ups that have wowed investors with big plans to revolutionize the auto industry. It won acclaim for taking over a plant whose shutdown by General Motors drew the wrath of President Donald J. Trump. But Lordstown seems far from achieving its goal of churning out electric pickup trucks starting in September and becoming a challenger to G.M. and Ford Motor. [ read more … ]

Push to electrify mail trucks gains wide support, an unlikely win for both DeJoy and Biden

By Jacob Bogage, Washington Post  •    •  Posted May 13, 2021

House Democratic leaders are lining up behind a White House push to allocate $8 billion in taxpayer funding for the latest iteration of mail truck, paving the way for a fully electric fleet instead of the piecemeal strategy U.S. Postal Service leaders have been pursuing. The agency, which is generally self-sustaining and does not draw public money, has drawn up a bootstrap plan for new vehicles — the vast majority of which would run on gas — as it wrestles with $188.4 billion in liabilities and faces years of projected losses. The lawmakers’ plan would relieve the agency of the truck expense while significantly advancing one of President Biden’s key sustainability objectives. [ read more … ]

Commentary

Supporters of switch to electric vehicles should also back increased usage of biofuels

By Editorial Board, Norfolk Daily News  •    •  Posted May 13, 2021

It’s anyone guess as to whether the Biden administration’s push for more electric vehicles will be the beginning of a widespread move away from what are now being described as “liquid-fueled cars.” But what is certain is that — even with a push from the White House — there will still be many, many years of filling up vehicles with gas and biofuels. [ read more … ]

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