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Governors' Biofuels Coalition
NEWS UPDATE August 22, 2013

FTC Examines Allegations That Oil Industry Blocks Greater Ethanol Use

By TENNILLE TRACY CONNECT, Wall Street Journal  •    •  Posted August 22, 2013

The Federal Trade Commission said it was looking into assertions by some members of Congress that oil companies are using their influence over retail gas stations to block consumers from accessing gasoline blended with extra ethanol. The inquiry underscores the deepening divide between the renewable-fuels industry, which wants to promote “E15” gasoline containing 15% ethanol, and the oil industry, which says consumers don’t want E15. Oil producers and refiners are pressing Congress to repeal the U.S. law that requires refiners to use ever-greater amounts of corn ethanol and renewable fuels. [ read more … ]

Senators call for antitrust probe of oil companies

Amanda Peterka, E&E reporter  •    •  Posted August 22, 2013

A bipartisan pair of senators is calling on federal regulators to launch an investigation into whether oil companies are engaging in anti-competitive practices aimed at blocking more ethanol from entering the market. In a letter to the U.S. attorney general and the Federal Trade Commission yesterday, Sens. Amy Klobuchar (D-Minn.) and Chuck Grassley (R-Iowa) said they believe the oil companies’ activities may be in violation of the nation’s antitrust laws. They alleged that oil companies were preventing gas stations from selling gasoline containing 15 percent ethanol, as opposed to the 10 percent blend that’s historically been sold at most gas stations. [ read more … ]

Shareholders sue cellulosic company for ‘false and misleading’ statements

Amanda Peterka, E&E reporter  •    •  Posted August 22, 2013

Shareholders filed a class-action lawsuit yesterday against cellulosic biofuel maker KiOR Inc. for failing to deliver on its promises. The lawsuit in U.S. District Court for the Southern District of Texas accuses the company and its executives of deceiving investors by reporting optimistic production targets and deadlines, spurring stock purchases at prices that were artificially high. [ read more … ]

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