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Governors' Biofuels Coalition
NEWS UPDATE December 19, 2013

Baucus proposal replaces dozens of energy breaks with credits for ‘clean’ fuel, electricity

Nick Juliano, E&E reporter  •    •  Posted December 19, 2013

For transportation fuels, credits would be awarded based on a fuel’s life-cycle emissions and its energy content, both compared to traditional gasoline. The fuel production credit would max out at $1 per gallon for an emissions-free fuel that produced as much energy as traditional gasoline, about the level provided by existing credits for second-generation biofuels, biodiesel and biodiesel mixtures. As with electricity, producers could instead choose to take a 20 percent investment tax credit. [ read more … ]

Surge Seen in U.S. Oil Output, Lowering Gasoline Prices

By CLIFFORD KRAUSS and STANLEY REED, New York Times  •    •  Posted December 19, 2013

Domestic oil production will continue to soar for years to come, the Energy Department predicted on Monday, scaling to levels not seen in nearly half a century by 2016. The annual outlook by the department’s Energy Information Administration was cited by experts as confirmation that the United States was well on its way — far faster than anticipated even a year ago — to achieving virtual energy independence. The report predicted that the increase in United States production would contribute to a decline in the world oil benchmark price over the next few years to $92 a barrel in 2017 from a 2012 average of $112 a barrel, which should translate into lower prices at the pump for consumers. [ read more … ]

House members urge EPA to boost biodiesel target

Amanda Peterka, E&E reporter  •    •  Posted December 19, 2013

A coalition of 54 bipartisan House members yesterday urged U.S. EPA to increase its proposed target for biodiesel, a renewable fuel made from soybean oil, animal fats and used cooking grease, that must be blended into petroleum-based diesel. In a proposed rule last month, the agency said it was planning to keep the biodiesel industry’s production target at 1.28 billion gallons for the next two years, well below the projected level of production in 2013. [ read more … ]

EPA accuses biodiesel makers of faking 33.5M fuel credits

Amanda Peterka, E&E reporter  •    •  Posted December 19, 2013

U.S. EPA slapped an Indiana-based biodiesel company and its subsidiary with a violation notice today over accusations that they generated 33.5 million fake renewable fuel credits in an effort to defraud the government. All the renewable fuel credits produced by E-Biofuels LLC, a subsidiary of Imperial Petroleum, between July 1, 2010, and June 2, 2011, were invalid, EPA said. Refiners purchased the credits to show compliance with the federal biofuel mandate’s requirements for biodiesel, which is made from soybean oil, animal fats or used cooking grease. [ read more … ]

Energy of the future may lie inside sea ice

By Sean Cockerham / McClatchy Washington Bureau  •    •  Posted December 19, 2013

Buried beneath the world’s oceans and the Arctic permafrost lies a global energy source that many think might dwarf today’s fracking revolution: huge reservoirs of natural gas trapped in ice crystals. They’re called methane hydrates and are sometimes known as “flammable ice.” If tapping methane hydrates ever becomes feasible, it once again would change the geopolitical map of the planet. Nations like Japan and India that lack their own conventional oil and gas resources suddenly could become energy power players. [ read more … ]

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