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Governors' Biofuels Coalition
NEWS UPDATE December 6, 2022

Top Story

Global renewable capacity growth set to double over next five years, says IEA

By Nina Chestney, Reuters  •    •  Posted December 6, 2022

Global renewable power capacity growth is set to double over the next five years, driven by energy security concerns in the wake of Russia’s invasion of Ukraine, the International Energy Agency (IEA) said on Tuesday. Biofuels demand is set to increase by 22% by 2027, the report said. [ read more … ]

RFS

RFS ‘set’ plan offers eRINs to EV manufacturers, another boost for sector

By Inside EPA  •    •  Posted December 6, 2022

EPA says in the proposed rule it limited the credits, known as electric renewable identification numbers (eRINs), to EV manufacturers because of concerns over complexity, fraud and data privacy of such a crediting system, but the proposal is a disappointment for biogas producers and EV charging station providers, who were hoping they too would be able to qualify for some of the credits. [ read more … ]

Senator Baldwin hails EPA for building upon clean energy

By Sean White, WSAW  •    •  Posted December 6, 2022

Sen. Baldwin has long pushed the EPA to increase the biofuel volume under the RFS to increase energy security, cut pollution, and support Wisconsin’s biofuel industry. Sen. Baldwin is also a co-sponsor of the bipartisan, bicameral, Defend the Blend Act, prohibiting the EPA from retroactively reducing RVO levels once the annual rule is finalized. This proposal includes steady growth of biofuels for use in the nation’s fuel supply from 2023 to 2025. Because the Energy Independence and Security Act of 2007 does not include volumes after 2022, this is the first time that EPA is setting these proposed biofuel volume targets without using those outlined in the statute. [ read more … ]

Tax Credit

Biofuels Groups Ask IRS to Get Carbon Scoring Right in Implementing Clean Fuel Tax Credit

By Todd Neeley, Progressive Farmer  •    •  Posted December 6, 2022

A new clean fuel production tax credit created by the Inflation Reduction Act could pave the way for significant growth in biofuels including ethanol, sustainable aviation fuel and biodiesel, if the IRS takes steps to adopt the right greenhouse gas lifecycle emissions model. The new credit has been touted as a technology-neutral credit under Section 45Z. It applies to fuel sold from Dec. 31, 2024, to Dec. 31, 2027, and is granted to fuel that meets a certain emissions-reduction factor. [ read more … ]

EPA

EPA has a new climate fund. Who should control the money?

By Avery Ellfeldt, E&E News  •    •  Posted December 6, 2022

A $27 billion EPA fund meant to curb planet-warming emissions should be used to support climate projects in disadvantaged areas — and use an existing network of financiers to do so, say community development advocates and green groups. At issue is the Greenhouse Gas Reduction Fund, a key provision of the Inflation Reduction Act that aims to leverage federal dollars to provide communities across the country with low-cost, flexible financing for clean energy projects. [ read more … ]

States

California eyes penalties for oil companies’ big profits

By Adam Beam, Associated Press  •    •  Posted December 6, 2022

California could become the first state to fine big oil companies for making too much money, a reaction to the industry’s supersized profits following a summer of record-high gas prices in the nation’s most populous state. Gov. Gavin Newsom and his Democratic allies in the state Legislature introduced the proposal Monday as lawmakers returned to the state Capitol in Sacramento for the start of a special legislative session focused solely on the oil industry. [ read more … ]

Climate

Fact check: Fossil fuels are the largest contributor to climate change, not animal agriculture

By Isabella Fertel, USA TODAY  •    •  Posted December 6, 2022

Climate experts say that the burning of fossil fuels is the largest contributor to global climate change. Animal agriculture is a significant contributor to greenhouse gas emissions and climate change, but the extent to which it contributes to global emissions depends on how researchers and studies define different economic sectors, and whether they incorporate things like farming equipment and food exports in the assessment of animal impact. [ read more … ]

Senators’ Bill Would Exempt Farmers from SEC Regulation on GHG Emissions

By Jerry Hagstrom, Progressive Farmer  •    •  Posted December 6, 2022

Sen. John Boozman, R-Ark., and Sen. Mike Braun, R-Ind., last week introduced a bill to exempt farmers from the Securities and Exchange Commission’s proposal for what they call “burdensome” greenhouse gas emissions reporting rules. Two Republicans in the House, Rep. Bill Huizenga, R-Mich., and Rep. Andy Barr, R-Ky, also have introduced the Mandatory Materiality Requirement Act of 2022. Their bill would change the Securities Exchange Act of 1934 to add language essentially blocking the SEC from requiring companies to report their greenhouse gas emissions. The bill by Huizenga and Barr mirrors a similar bill by Sen. Mike Rounds, R-S.D., as well. [ read more … ]

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