After Three Decades, Tax Credit for Ethanol Expires

A federal tax credit for ethanol expired on Saturday, ending an era in which the federal government provided more than $20 billion in subsidies for use of the product. The tax break, created more than 30 years ago, had long seemed untouchable. But in the last year, during which Congress was preoccupied with deficits and debt, it became a symbol of corporate welfare. Fiscal conservatives joined liberal environmentalists to kill it, with help from a diverse coalition of outside groups. [ read more … ]

EPA: Ethanol production expected to grow in 2012

The U.S. Environmental Protection Agency on Tuesday said ethanol production in 2012 should reach 15.2 billion gallons, an increase of about 1.25 billion gallons from this year. [ read more … ]

Oil Prices Predicted to Stay Above $100 a Barrel Through Next Year

With Iran threatening to cut off about a fifth of the world’s oil supply by closing the Strait of Hormuz and unrest in Iraq endangering the ability to increase production there, financial analysts say prices for two important oil benchmarks will average from $100 a barrel to $120 a barrel in 2012. [ read more … ]

Energy not there in Iowa

Energy issues — historically ethanol but increasingly wind — used to be a centerpiece of the first-in-the-nation caucuses, providing a national platform for a state that prides itself on excelling in renewable energy.
But the vast cornfields and wind-swept plains of the Hawkeye State, while important to the local economy, have taken a back seat this year.
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EPA raises ethanol goal

The federal government has set its target for biofuels production in 2012, increasing by 1.25 billion gallons the amount of ethanol and biofuels that must be blended into the fuel supply.
Fuel providers will be required to blend 15.2 billion gallons of renewable fuel into the fuel supply in 2012. This includes 8.65 million gallons of cellulosic biofuels, up from 6.6 million gallons in 2011.
[ read more … ]