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Governors' Biofuels Coalition
NEWS UPDATE January 26, 2023

Top Story

‘Carbon Express’ pipeline runs into skepticism in Minnesota farm country

By Jennifer Bjorhus, Minneapolis Star Tribune  •    •  Posted January 26, 2023

One of the world’s largest planned carbon storage projects is hitting resistance in rural Minnesota as an Iowa company tries to entice landowners to allow a carbon dioxide pipeline to run under their fields. Summit Carbon Solutions, which is developing the $5.2 billion “Midwest Carbon Express,” has been promising to pay farmers and other landowners for easements, in some cases dangling five-figure signing bonuses. A company executive said Summit has secured about half the easements it needs in Minnesota. Even so, pushback was evident in this small southwest Minnesota farm town Monday evening where about 120 people, mostly landowners, packed the American Legion hall for a two-hour community meeting on carbon pipelines. [ read more … ]

Biden Administration

Advanced Biofuels Projects, Corn Ethanol Receive $118 Million From DOE

By Todd Neeley, Progressive Farmer  •    •  Posted January 29, 2023

Seventeen advanced biofuels projects received $118 million from the U.S. Department of Energy on Thursday, to accelerate a number of projects at universities and private companies, according to a DOE news release. In all, the DOE awarded about $22.5 million to nine integrated biorefinery projects in California, Georgia, Nevada, North Carolina and Utah. Those projects include pre-pilot scale-put technologies for algae-based jet fuel, renewable diesel sustainable aviation fuel, renewable gasoline, marine fuel from biomass, as well as work on corn-stover sustainable aviation fuel. [ read more … ]

SAF

Illinois lawmakers approve $1.50 per gallon SAF tax credit

By Erin Voegele, Ethanol Producer Magazine  •    •  Posted January 26, 2023

Both houses of the Illinois General Assembly on Jan. 10 approved a legislative package that, in part, creates a $1.50 per gallon tax credit for sustainable aviation fuel (SAF). The legislation, known as the Invest in Illinois Act, or SB 2951, must now be signed by Illinois Gov. JB Pritzker. [ read more … ]

Markets

When Will We Hit Peak Fossil Fuels? Maybe We Already Have

By Dan Gearino, Inside Climate News  •    •  Posted January 26, 2023

The global energy transition has reached a pivot point in which fossil fuels have likely peaked in their use for producing electricity and are about to enter a period of decline. This is the idea at the heart of a new report from RMI, a nonprofit that does research and advocacy about the transition. The lead author, energy analyst Kingsmill Bond, makes a case that wind and solar power are going through growth that looks almost exactly like the trend lines for the early stages of transformative products and industries, across technologies and eras, like automobiles and smartphones.
The growth begins slowly, with high costs, and shifts into high gear as costs shrink and efficiency rises. [ read more … ]

ADM’s earnings top forecasts on strong crush margins, buoyant demand

By Karl Plume in Chicago and Sourasis Bose in Bengaluru, Reuters  •    •  Posted January 26, 2023

Archer-Daniels-Midland Co on Thursday said robust soy crushing margins and hefty global demand for crops propelled the U.S. grains merchant to a record fourth-quarter profit and would keep driving strong results in 2023. ADM reported a 46% operating profit jump in its core Ag Services and Oilseeds unit in the quarter ended Dec. 31, more than offsetting lower earnings from ethanol operations due to thin margins and ample inventories of the biofuel. It also eclipsed weaker earnings in its high-margin Nutrition segment. [ read more … ]

EIA: Ethanol production up slightly, stocks up 7%

By Erin Voegele, Ethanol Producer Magazine  •    •  Posted January 26, 2023

U.S. fuel ethanol production was up slightly the week ending Jan. 20, according to data released by the U.S. Energy Information Administration on Jan. 25. Weekly ending stocks of fuel ethanol expanded by more than 7 percent. [ read more … ]

Clean Fuels Industry United as One

By Cindy Zimmerman, AgWired  •    •  Posted January 26, 2023

Clean Fuels Alliance America CEO Donnell Rehagen welcomed representatives of an industry united as one for a sustainable energy future at the first ever Clean Fuels Conference in Tampa, Florida Tuesday. Formally the National Biodiesel Conference, the new focus encompasses biodiesel, renewable diesel and sustainable aviation fuel. “We are united with federal and state legislators and regulators who are looking for ways to reduce emissions,” said Rehagen. “We’re also united with consumers. They are the ones who are driving the demand for clean fuels.” [ read more … ]

Clean Energy Sets $1.1 Trillion Record That’s Bound to Be Broken

By Nathaniel Bullard, Bloomberg  •    •  Posted January 26, 2023

2022 was also a milestone in another sense — as the first year when investment in decarbonizing energy surpassed $1 trillion. The  year-on-year increase of more than $250 billion from 2021 was the largest jump yet. Renewable energy and electrified transport reaped most of those dollars. Those sectors were buoyed by soaring installations of wind and solar — with more than 350 gigawatts of assets built — and sales of 10-million-plus electric vehicles globally. [ read more … ]

Congress

Meet the top House recipients of oil and gas money

By Scott Waldman, E&E News  •    •  Posted January 26, 2023

Of the top 10 recipients of oil and gas money in the 2022 election cycle, eight are Republican, according to data from OpenSecrets, which tracks political spending. The contributions include donations of more than $200 from individuals, as well as money from political action committees that represent energy companies and organizations, including the American Petroleum Institute, Chevron Corp., Exxon Mobil Corp. and Koch Industries Inc. [ read more … ]

A top Senate Republican promotes climate conspiracy theory

By Scott Waldman, E&E News  •    •  Posted January 26, 2023

House Republicans have pledged to hold investigations into the debunked claims in the coming months. They falsely claim that Russia is funding anti-fracking campaigns in order to undermine the American gas industry and thus boost demand for Russian gas. There is no evidence that Russia made payments to environmental groups, but that has not stopped Republicans from making such claims for years. [ read more … ]

EVs

The US Hasn’t Noticed That China-Made Cars Are Taking Over the World

By Tom Hancock, Bloomberg  •    •  Posted January 26, 2023

Chinese brands are now market leaders in the Middle East and Latin America. In Europe, the China-made vehicles sold are mostly electric models from Tesla Inc.and Chinese-owned former European brands such as Volvo, MG and Dacia. BMW’s bestselling electric vehicle globally, the iX3, is produced exclusively in China and exported to Europe. A raft of homegrown marques like BYD Co. and Nio Inc. are ascending as well, with ambitions to dominate the world of new-energy vehicles. Backed by Warren Buffett’s Berkshire Hathaway Inc., BYD is already charming EV buyers in developed countries such as Australia. [ read more … ]

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