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Governors' Biofuels Coalition
NEWS UPDATE June 19, 2014

Ethanol Tumbles as Report Shows Output at Record High

By Mario Parker, Bloomberg  •    •  Posted June 19, 2014

Ethanol declined to a six-week low after a government report showed production of the biofuel rose to a record. Futures fell after the Energy Information Administration said output rose 3 percent to 972,000 barrels a day last week, the most in four years of weekly data from the Energy Information Administration. Corn prices that have dropped 34 percent in the past year have helped reduce production costs for ethanol makers and allowed them to boost operations. One bushel of the grain makes at least 2.75 gallons of the renewable fuel. [ read more … ]

Oil industry calls for swift release of final RFS rule

Amanda Peterka, E&E reporter  •    •  Posted June 19, 2014

The American Petroleum Institute urged the Obama administration today to quickly complete the rule setting this year’s biofuel requirements. U.S. EPA this month extended the compliance deadline for last year’s renewable fuel standard targets, raising the likelihood that a final rule initially slated for completion this month won’t be done until August or September. “Right now, EPA should be proposing the 2015 requirements, but we’re still waiting for them to finalize the requirements for this year,” said Bob Greco, API director of downstream activities, in a conference call with reporters. [ read more … ]

Brazil ethanol advocates say House bill ‘backslides’ on U.S. open market commitment

Amanda Peterka, E&E reporter  •    •  Posted June 19, 2014

The trade group for Brazilian sugar cane ethanol producers yesterday warned that legislation introduced in the House last week could put the United States in violation of international trade rules. The legislation by Rep. James Lankford (R-Okla.) would stipulate that only domestically produced biofuels qualify for credit under the renewable fuel standard, the federal mandate that refiners blend biofuels into petroleum fuel. [ read more … ]

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