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Governors' Biofuels Coalition
NEWS UPDATE February 23, 2022

Top Story

Growth Energy Settles With EPA on RFS

By Todd Neeley, DTN Staff Reporter  •    •  Posted February 23, 2022

Any hopes by biofuels producers for the EPA to finalize already-late Renewable Fuel Standard volumes this spring may have ended, as the agency struck a settlement with Growth Energy this week that requires EPA to finalize 2021 and 2022 volumes by June 3. With a number of outstanding lawsuits and threats of lawsuits pending, Growth Energy announced the settlement on Tuesday as the biofuels industry waits for EPA to finalize a broad set of RFS actions announced in December. The settlement, which is scheduled to post to the Federal Register on Wednesday, will be subject to a 30-day public comment period. [ read more … ]

RFS

Official Sees EPA Getting RFS on Track

By Chris Clayton, DTN Ag Policy Editor  •    •  Posted February 23, 2022

An EPA official speaking at the National Ethanol Conference on Tuesday committed the Biden administration to supporting higher use of biofuels and to put “biofuel use on a sustainable trajectory of growth” while moving with “urgency” to finalize the Renewable Fuel Standard blend volumes for 2022. Sarah Dunham, director of EPA’s Office of Air Quality, oversees essentially every aspect of the RFS. Dunham noted the Biden administration is focused aggressively on climate change and lowering greenhouse-gas emissions “and that absolutely incudes biofuels,” she said. [ read more … ]

Seeds of new biofuel plan?

BY MATTHEW CHOI, Politico  •    •  Posted February 23, 2022

Cooper says he expects the so-called “set rule” proposal will include not only volumes for 2023, but also could potentially levels for 2024 and 2025 in a bid to increase certainty and predictability around the program. “If you can do a couple years or three years at a time, that’s good for [EPA] and it’s good for the affected parties of the program,” Cooper said. [ read more … ]

U.S. Agriculture Secretary touts importance of low-carbon biofuels

By Stephanie Kelly, Reuters  •    •  Posted February 23, 2022

The U.S. secretary of agriculture on Wednesday touted the importance lower-carbon biofuels will have in meeting the Biden administration’s targets for reducing carbon emissions. Agriculture Secretary Tom Vilsack spoke of the administration’s support for biofuels — including lower-carbon aviation fuel, which can be made from plant oils and animal fat.
[ read more … ]

RFA’s Cooper: Ethanol has Historic Opportunity to Cut Carbon, Lower Fuel Prices

By RFA  •    •  Posted February 23, 2022

The ethanol industry has already made great progress toward decarbonization, Cooper said, as today’s corn ethanol reduces greenhouse gas emissions by roughly 50% percent compared to gasoline. And, as highlighted in a new study released at the conference, ethanol is on a trajectory to achieve net-zero carbon emissions well before 2050. But ethanol’s ability to contribute to decarbonization goals goes far beyond the light-duty vehicle fleet. [ read more … ]

Low Carbon Fuel Standard

RFS statute ‘constrains’ EPA’s ability to change to an LCFS: Official

By OPIS  •    •  Posted February 23, 2022

While EPA has been asked by the biofuels industry to consider whether it can convert the Renewable Fuel Standard (RFS) program into something that resembles a low-carbon fuel standard, such a move is unlikely because the agency’s ability to make significant changes is “constrained” by the RFS statute, an EPA official said on Tuesday. [ read more … ]

Markets

Biofuel Maker Renewable Energy Group Is Said to Field Interest

By Liana Baker, Bloomberg  •    •  Posted February 23, 2022

Renewable Energy fell 2.3% to close at $32.62 in New York on Tuesday, giving the company a market value of about $1.6 billion. The stock has fallen about 67% in the past year.  The Ames, Iowa-based company, led by Chief Executive Officer Cynthia “CJ” Warner, turns feedstock into fuel at more than a dozen locations in the U.S. and Germany, according to its most recent annual report. The company’s biodiesel margins have been hurt by higher soybean costs, according to a research notethis month by Bloomberg Intelligence. [ read more … ]

How the Russia crisis hits energy, from CO2 to pipelines

By Mike Lee, Miranda Willson, Carlos Anchondo, E&E News  •    •  Posted February 23, 2022

The degree that the Russian crisis may ripple across the U.S. energy sector and stress Biden’s climate agenda are unclear, despite a push by U.S. industry to increase natural gas exports. In Europe, some analysts say the pause of Nord Stream 2 could double natural gas prices at a time when consumers are already struggling. The crisis in the Ukraine escalated on Monday when Putin recognized the independence of two breakaway regions of the Eastern European country and said he would send troops there as “peacekeepers” [ read more … ]

 

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