The largest type by far is corn ethanol — often called "conventional" biofuels — followed by advanced biofuels, which means biofuels made from material other than corn.
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O) and consulted for biofuels industry group Growth Energy, agricultural merchant and biofuels producer Archer Daniels Midland Co (ADM.
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Court challenges were widely expected after EPA in late November finalized biofuels requirements that disappointed both biofuels and oil groups.
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Exhibit D is the Bioenergy Program for Advanced Biofuels, which provides quarterly or annual payments to companies producing advanced biofuels.
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The members of Congress are part of a bipartisan voting bloc dedicated to supporting the biofuels industry called the House Biofuels Caucus.
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The policy is kind of like a Russian doll: smaller categories of different types of biofuels inside an overall mandate for biofuels.
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The companies in question range from biofuels and sugar cane firm Alur and biofuels distributor Dusca to beverage, alcohol, and repellants company Caba.
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Biofuels advocates say that excessive use of the waivers undermines the Renewable Fuel Standard by weakening demand for biofuels like corn-based ethanol.
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"Trump promised 2b pro biofuels & pro rural America/Pruitt RFS proposal =anti biofuels &anti rural America / EPA not doing what @POTUS said," Grassley wrote.
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The agency slightly upped the requirement for advanced biofuels, but left the conventional biofuels requirement for 2018 and the biodiesel mandate for 2019 unchanged.
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It is conceivable that this might be cheaper than alternatives, such as biofuels—especially if the full environmental impact of the biofuels is accounted for.
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The increase did not go far enough for the farm lobby and biofuels companies like Poet LLC, which have spent millions to produce advanced biofuels.
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Refiners must either obtain the credits by blending the biofuels into traditional fuels themselves or buy the credits from others who have blended biofuels themselves.
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He has also consulted for biofuels association Growth Energy and agricultural merchant and biofuels producer Archer Daniels Midland Co, according to his public financial disclosures.
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Instead, just 13 million gallons of this liquid type of biofuels came online in 2017, according to Michael McAdams, head of the Advanced Biofuels Association.
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Biofuels groups have strongly opposed the idea, saying it could spark trade tensions and goes against the RFS' intent to increase domestic use of biofuels.
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The EPA's proposed cuts to advanced and cellulosic biofuels "will have a chilling effect on the push toward next generation biofuels," said Iowa Senator Chuck Grassley.
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A RIN, or Renewable Identification Number, is the name given to biofuels blending credits that many refiners are required to purchase under the U.S. biofuels regulation.
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CVR had accumulated a large short position in biofuels blending credits, called Renewable Identification Numbers or RINs which many refiners are required to purchase under the biofuels law.
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The EPA is weighing a change to U.S. biofuels policy that would allow exports of ethanol to count toward the country's annual biofuels volumes mandates, Reuters reported Wednesday.
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Biofuels regulations require refiners either to blend biofuels into gasoline or - in the case of companies like CVR that have no blending facilities - to buy credits from competitors.
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"We are grateful for USDA Secretary Sonny Perdue for this commitment to expanding infrastructure and access to higher blends of biofuels," said Growth Energy, a biofuels trade association.
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But he says biofuels will never join that list of technologies because the physics simply don't work; biofuels can't supply the energy the Navy needs to power its fleet.
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Overall, though, given renewed corporate interest in biofuels, new sources of financing and new feedstock and regional focuses, we may soon see a quiet boom in renewable biofuels and products.
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On biofuels, Wheeler said the agency would keep pursuing changes to the U.S. Renewable Fuel Standard that Pruitt sought, including counting ethanol exports toward the nation's annual biofuels blending quotas.
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By Chris Prentice The U.S. Environmental Protection Agency's (EPA) next battleground for the controversial biofuels program will be in the courtroom as it faces lawsuits from biofuels, agriculture, and oil interests.
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Efforts to expand U.S. biofuels use have been welcomed by corn growers and biofuel producers, but have angered the oil industry, which views biofuels as a competition for petroleum-based fuels.
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That will include 15 billion gallons of conventional biofuels like corn-based ethanol, in line with 2017, and 4.29 billion gallons of so-called advanced biofuels, up from 4.28 billion in 2017.
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The waivers save the oil industry money, but biofuels groups worry they also cut into the nation's demand for ethanol and other biofuels, and have criticized Trump's EPA for over using the exemptions.
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Through the ingenuity of American farmers and researchers, biofuels and environmental protection can go hand-in-hand—but only with strong Congressional support for sustainable biofuels production, not capitulation to the oil industry.
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A spokesman for the Advanced Biofuels Association said the proposal would account for just a fraction of the volumes of biofuels the EPA has waived for small refineries over the past few years.
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Biofuels advocates worry the provision would translate into a similar reduction in the volume of biofuels that the government requires under the RFS - currently over 19 billion gallons per year, mostly in ethanol.
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And as with biofuels for cars and trucks, production of large quantities of aviation biofuels could lead to changes in land use — clearing forests to grow crops, for example — that could increase emissions.
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Brazil currently mandates 8 percent biofuels in the fuel mix.
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Palm oil is used extensively in food, cosmetics and biofuels.
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But it does not help biodiesel or other advanced biofuels.
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"President Trump pledged to support biofuels during his campaign," Sen.
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Shares of major biofuels producers rose slightly after the announcement.
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Extensive use of biofuels could produce much more significant reductions.
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And so did the groups that campaign for renewable biofuels.
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But there's very little infrastructure and production of biofuels today.
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A biofuels trade group quickly questioned the research methods used in the study, further fueling the heated debate over U.S. biofuels policy, which requires refiners to add renewable fuels like ethanol to their products.
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By dragging out the process they created uncertainty that stymied the development of infrastructure and advanced biofuels which then allowed them to claim there was insufficient infrastructure and advanced biofuels to meet statutory targets.
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It also caps the share of crop-based, or first generation, biofuels used in transport at 3.8 percent by 2030, seeking instead to phase in advanced biofuels and electrification to reach 6.8 percent by 2030.
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SAO PAULO (Reuters) - Brazil's latest policy to boost biofuels use has improved the outlook for ethanol production and should attract new investment in plants, BP Plc's chief executive for biofuels, Mario Lindenhayn, said on Wednesday.
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Wheeler had also lobbied for utility Xcel Energy Inc and consulted for biofuels industry group Growth Energy, agricultural merchant and biofuels producer Archer Daniels Midland Co and International Paper Co, according to his public disclosures.
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Green Plains and other biofuels shares got a boost last month following U.S. regulators' proposal to increase the amount of corn-based ethanol and biofuels that must be mixed into diesel and gasoline next year.
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As biofuels volumes have increased, the price of RINs has too.
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But most biofuels are no better for the climate than oil.
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Airlines are now experimenting with biofuels that can be carbon-neutral.
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Liquid biofuels was the next biggest employer, with 1.7 million jobs.
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Refiners maintain the waivers have not hurt overall demand for biofuels.
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It is unclear what President Donald Trump's team plans for biofuels.
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He said jet biofuels were twice the cost of conventional fuels.
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Mike Conaway of Texas to block new Pentagon biofuels contracts, Rep.
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We are in biofuels, hydrogen, L.N.G. and other opportunities for wind.
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That future includes clean energy technologies like wind, solar and biofuels.
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It is possible to make extremely carbon-intensive biofuels and electricity.
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Refiners who cannot blend biofuels have to purchase credits from others.
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Eisen threw out a few trendy notions: biofuels, a carbon tax.
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The biofuels law, called the Renewable Fuel Standard, requires oil refiners to blend increasing volumes of biofuels such as corn-based ethanol into the nation's fuel each year, or buy paper credits from companies that do.
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"Ethanol and other biofuels have been a huge disappointment [in terms of] their environmental performance and success in reducing climate change," said Rose Garr, senior director of Mighty Earth, a nonprofit environmental group that opposes biofuels.
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The USDA awarded more than half of the program funding to facilities that had nothing to do with the production of advanced biofuels, even though the program's intentions are to encourage the production of advanced biofuels.
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"In the absence of advanced biofuels, most of the biofuel blended under the RFS to date has been conventional corn-starch ethanol, which achieves smaller greenhouse gas emission reductions compared with advanced biofuels," government researchers wrote.
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The plan would involve a previously discussed 500 million gallons for conventional biofuels, largely corn-based ethanol, as well as an additional 2.433 million gallons for advanced biofuels like biodiesel for 2020, according to the document.
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Shell's initial bid on Abengoa's bankrupt biofuels asset marks the oil major's latest push into renewable fuels as the U.S. government is getting its over decade-old biofuels policy back on track following years of regulatory delays.
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So-called drop-in biofuels (which work in existing internal combustion engines) would be welcome, and some could arguably lower carbon emissions, but there is as yet no prospect of practical, scalable, carbon-free biofuels (or biomass).
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The deal would have eased pressure on the refining industry by allowing biofuels exports to count toward the annual volumes quotas, but would also have expanded sales of high-ethanol gasoline in a concession to biofuels producers.
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"The biofuels industry will rise or fall together, and thus we are disappointed the final rule is not more aggressive with regard to other advanced biofuels such as biodiesel," RFA President Bob Dinneen said in a statement.
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"We see there will be great needs for marine biofuels because they are sulphur-free and that gives an edge to biofuels," An said in an interview at his office in Pangyo, an hour's drive from Seoul.
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The US Department of Energy and the military meanwhile are researching biofuels.
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As technology advances, new, innovative ways of generating biofuels are being developed.
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In November, the EPA hiked biofuels requirements for 2017 more than expected.
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Argentina celebrated the deal as a victory for the country's biofuels sector.
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The RFS was designed to help boost use of biofuels, including ethanol.
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SI), and Musim Mas, according to the Indonesian Biofuels Producers Association (APROBI).
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It is considering other energy futures products such as biofuels, he added.
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Most climate activists would agree with his assertion that biofuels are harmful.
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The ethanol industry's view of Trump's biofuels policy is a mixed bag.
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Last year alone, U.S. biofuels displaced 510 million barrels of imported oil.
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It's all about training people to do wind, solar, geothermal, hydropower, biofuels.
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Plus, farmers often clear forest land to produce materials for these biofuels.
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The tax for biofuels to work would have to be even higher.
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The trading house had indicated last September a "significant loss" in biofuels.
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|
Both sides are jockeying over potential changes to the nation's biofuels mandate.
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It also publicizes its development of renewable energy technologies such as biofuels.
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And in 2020, biofuels are no less of a priority for Iowans.
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Focus on low-cost oil for petroleum products and develop sustainable biofuels.
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But biofuels could make a giant impact if they were ambitiously expanded.
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And greenhouse emissions are down, but not much on account of biofuels.
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Biofuels derived from corn and soybean require inputs like fertilizer and land.
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WASHINGTON, Nov 30 (Reuters) - The U.S. Environmental Protection Agency said on Friday it lifted its annual blending mandate for advanced biofuels by 15 percent for 2019, while keeping the requirement for conventional biofuels like corn-based ethanol steady.
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The groups representing biofuels manufacturers and corn and sorghum farmers intend to challenge the EPA's authority to set requirements for volumes of biofuels required to be used below a 2007 law, said a spokesman for Biotechnology Innovation Organization.
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NEW YORK (Reuters) - Prices in the niche market for biofuels compliance credits jumped to three-year highs on Monday as traders fretted about supplies because of higher U.S. government mandates to increase the use of biofuels next year.
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The exclusion of first generation biofuels would also likely mean a rise in fossil fuels in transport due to lack of availability of advanced biofuels, Raffaello Garofalo, Secretary General of the European Biodiesel Board said in a statement.
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Ten years ago I was in the French government mission for biofuels, and I remain persuaded that biofuels will stay, and they are still here, and there is a lot more of that in fuels than we may realize.
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HELSINKI (Reuters) - Finnish pulp and paper maker UPM-Kymmene is planning its next step in wood-based renewable fuel products after a successful ramp-up at its initial biofuels plant, the head of UPM's biofuels business said on Wednesday.
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Oslo Airport became the first airport in the world to offer jet biofuels to all airlines in January and Lufthansa Group was the first to sign up to use a biofuels mix in its flights from the Norwegian capital.
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And it scraps a Pentagon mandate to pursue biofuels and other energy alternatives.
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It marks a setback for the oil industry, which views biofuels as competition.
|
|
That included 15 billion gallons of conventional biofuels like ethanol, unchanged from 15.53.
|
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Some airlines are experimenting with biofuels, which in theory could be carbon-neutral.
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|
Many companies are focusing on liquified natural gas (LNG) and biofuels as alternatives.
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You need special modifications to run your car on ethanol or similar biofuels.
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Two airports—Los Angeles and Oslo—include biofuels in their regular fuelling process.
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So far, Avinor has bought 1.25 million liters (275,000 UK gallons) of biofuels.
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This offers insurance at a time investors remain wary of biofuels, says Katz.
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Coal was simply more useful as a source of energy than traditional biofuels.
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The New Energies segment produces biofuels like corn-derived ethanol and hydrogen fuel.
|
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It also hopes the rise of aircraft biofuels will aid in its plan.
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Refiners that aren't able to blend biofuels must purchase RINs from their competitors.
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PLAN TO INCREASE 2020 BIOFUELS REQUIREMENTS PART OF AN EFFORT TO APPEASE FARMERS
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That included 15 billion gallons of conventional biofuels like ethanol, unchanged from 2019.
|
|
Dramatic advances in biofuels tech, we were told, were just around the corner.
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PES said its biofuels obligation for 2016 and 2017 totals about $185 million.
|
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Icahn has long called for the requirement to blend biofuels to be scrapped.
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For long-haul journeys, Gane predicts, biofuels will be the fuel of choice.
|
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The machines can be powered by solar energy or the burning of biofuels.
|
|
The biofuels package marks the administration's effort to make up for lost ground.
|
|
The investments are not limited to renewables such as biofuels, solar and wind.
|
|
The proposed mandate, which is now under review by other government agencies, includes 15 billion gallons of conventional biofuels like ethanol, unchanged from 2019, along with 5.04 billion gallons of advanced biofuels, up from 4.92 billion in 2019, the sources said.
|
|
Groups representing biofuels manufacturers and corn and sorghum farmers intend to challenge the Environmental Protection Agency's authority to set requirements for volumes of biofuels use below a 2007 law, said a spokesman for Biotechnology Innovation Organization, one of the groups.
|
|
NEW YORK (Reuters) - A coalition of trade groups representing oil, biofuels and other interests pressed the U.S. government on Thursday to deny requests to tweak the country's biofuels program, the latest in a series of political maneuvers that have roiled markets.
|
|
Last week, the head of a U.S. biofuels group said Icahn told him that Trump was readying an executive order to change the point of obligation for blending under the biofuels program, something both the White House and Icahn have denied.
|
|
The industry has been at odds with the White House after the administration gave numerous oil refineries exemptions from the nation's biofuels blending laws that require them to blend – or pay for credits – corn-based biofuels into the nation's fuel stock.
|
|
CAPE TOWN, Oct 1 (Reuters) - South Africa hopes to finalise its biofuels regulatory framework by March next year, the energy minister said on Monday, almost a decade after the policy to promote biofuels like ethanol and biodiesel was first approved.
|
|
NEW YORK, July 22013 (Reuters) - Prices in the niche market for biofuels compliance credits jumped to three-year highs on Monday as traders fretted about supplies because of higher U.S. government mandates to increase the use of biofuels next year.
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And also recent studies have found that biofuels may be threatening global food security.
|
|
Auto production fell 3.2 percent, and petroleum and biofuels products output fell 2.7 percent.
|
|
The group has large non-sugar businesses ranging from biofuels to pizzas and starches.
|
|
RenovaBio will mandate fuel distributors to gradually increase the amount of biofuels they sell.
|
|
Enzymes produced through directed evolution are used to manufacture everything from biofuels to pharmaceuticals.
|
|
It is also a more sustainable alternative than the biofuels made from food crops.
|
|
New-energy businesses such as hydrogen and biofuels are seen as financial black holes.
|
|
"EPA has found its groove," said Michael McAdams, President of the Advanced Biofuels Association.
|
|
The final plan drew praise from biofuels advocates and criticism from the oil industry.
|
|
Refiners have long requested this change, saying the biofuels program has hammered their profits.
|
|
Gasoline importers and oil refiners need these credits to meet the country's biofuels mandates.
|
|
He is a long-time Washington insider with connections to oil, coal and biofuels.
|
|
Replacing that amount of jet fuel – 3.8 billion barrels - with biofuels looks a stretch.
|
|
Advanced biofuels must be developed to produce renewable fuels without competing with food supplies.
|
|
It also explains why solar panels and biofuels featured early in these trade conflicts.
|
|
Lawmakers envisioned biofuels made from plant material that's cleaner than corn ethanol to develop.
|
|
Palm oil is used in products from snacks and soaps to cosmetics and biofuels.
|
|
Thirty years ago, the oil industry used the same strategy to avoid using biofuels.
|
|
Arnold's methods are now used to produce pharmaceuticals, specialty chemicals, and enzymes for biofuels.
|
|
The waivers free refineries from having to blend biofuels like ethanol into their gasoline.
|
|
None of the candidates even bothered to attend the Iowa biofuels summit in January.
|
|
Because second-generation biofuels are grown and refined in America, they promote energy independence.
|
|
Ten years ago, cellulosic biofuels were considered a promising low-carbon alternative to gasoline.
|
|
NEW BIOFUELS DEAL WILL REDISTRIBUTE GALLONS EXEMPTED FROM SMALL REFINERIES TO OTHER REFINERS - CENSKY
|
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And biofuels would help us gain energy independence and hence greater security from terrorism.
|
|
Icahn's refining company had taken a large short position in the biofuels credit market.
|
|
The waivers free refineries from having to blend biofuels like ethanol into their gasoline.
|
|
The mandate included 15 billion gallons of conventional biofuels like ethanol, unchanged from 2019.
|
|
Overall biofuels accounted for 4.9 percent of market share in 2014, T&E said.
|
|
A new National Biofuels Policy, known as RenovaBio, will go into effect in January.
|
|
Technologies that have "stalled" — nuclear power, carbon capture and sequestration, biofuels — must be kickstarted.
|
|
Biofuels can help decarbonise sectors for which other options may be scarce, by generating heat for industries and heating rooms and water in buildings, and powering the transport sector, though the role of biofuels in maritime and, particularly, aviation transport is still limited.
|
|
WASHINGTON (Reuters) - The U.S. Environmental Protection Agency lifted its annual blending mandate for advanced biofuels by 22019 percent for 2019, while keeping steady the requirement for conventional biofuels like corn-based ethanol, according to an agency document seen by Reuters on Thursday.
|
|
Under the U.S. Renewable Fuel Standard (RFS), oil refiners must blend increasing amounts of biofuels into their fuel each year or purchase blending credits from those that do, a policy that has helped farmers by boosting the market for ethanol and other biofuels.
|
|
None of the largest oil companies disclose earnings from their solar, wind or biofuels ventures.
|
|
Oddly enough, this video spiked my curiosity more on biofuels than it did on tequila.
|
|
Waivers save refiners money because they do not need to blend biofuels or buy credits.
|
|
Alternative fuels, like biofuels, are starting to be used that sharply cut net carbon emissions.
|
|
Still, looking to the often-disappointing history of biofuels, the world should proceed with caution.
|
|
The RFS is intended to promote the production of biofuels such as ethanol and biodiesel.
|
|
The firm has also suffered from a recent slump in demand for grains for biofuels.
|
|
Can ethanol-producing bioreactors be used, instead, to turn biofuels into sugar people can eat?
|
|
Some environmentalists say that shipping biofuels from California, via the Panama Canal, makes no sense.
|
|
Each year, EPA requires fuel companies to blend biofuels into the gasoline and diesel pool.
|
|
Rival U.S. trade group Advanced Biofuels Association (ABFA) said the duties would raise fuel prices.
|
|
The next trading day, biofuels credit prices dropped to an intraday low of 30 cents.
|
|
Renewables—mainly hydropower and biofuels—currently account for 10 percent of the country's energy needs.
|
|
The request for review sets the stage for EPA's next battle over the biofuels program.
|
|
The wind sector represented 1.2 million jobs, while biofuels were responsible for 1.7 million jobs.
|
|
The environmental benefits of biofuels like E15 have the potential to make a huge impact.
|
|
EPA set the advanced biofuels mandate at 4.28 billion gallons, confirming figures Reuters previously reported.
|
|
The advanced biofuels category includes a variety of fuels considered more environmentally friendly than ethanol.
|
|
Shares of biofuels producers Green Plains Inc and Pacific Ethanol Inc rose after the news.
|
|
Corn-rich Iowa is the nation's top biofuels producer, and also a pivotal political battleground.
|
|
However, investors were unhappy with a lack of detail and guidance on the biofuels unit.
|
|
We are the biggest natural gas liquid producer in the world, and we have biofuels.
|
|
Biofuels and electric power are starting to make a dent, but their impact remains small.
|
|
Meanwhile, "advanced" biofuels would be forced to compete against corn on a level playing field.
|
|
Icahn has since stepped back from Washington and no longer addresses the biofuels regulation issue.
|
|
RINs, which are renewable fuel credits, are used to comply with the country's biofuels requirements.
|
|
POET is now the world's largest producer of biofuels, with $8 billion in annual revenue.
|
|
The Environmental Protection Agency (EPA) is planning to increase the federal mandate for certain biofuels.
|
|
Her enzymes have been used to make biofuels, medicines and laundry detergent, among other things.
|
|
The RFS requires refiners to blend biofuels like corn-based ethanol into the nation's fuel.
|
|
Which begs the question: Why does the Navy want to green its fleet with biofuels?
|
|
TRUMP TO MEET ON THURSDAY EVENING WITH EPA, USDA HEADS TO DISCUSS BIOFUELS PROPOSAL -SOURCES
|
|
We also need to quickly end perverse subsidies that are encouraging the use of biofuels.
|
|
Yes, when burned in an engine, biofuels will still emit carbon dioxide into the atmosphere.
|
|
A pivot to a forward-looking biofuels policy must address a number of central challenges.
|
|
But first this has nothing to with Democrats or Republicans and their support of biofuels.
|
|
If biofuels expand, though, they may run into a problem, specifically in the U.S. heartland.
|
|
American seafarers and truckers ship feedstocks that are processed into biofuels by land and barge.
|
|
It also acknowledges that green technology and biofuels will not be riding to aviation's rescue.
|
|
BIOFUELS PLAN WILL MAKE IT EASIER FOR GAS STATIONS TO SELL HIGHER-ETHANOL GASOLINE - CENSKY
|
|
TRUMP ADMINISTRATION EXPECTS TO ANNOUNCE NEW BIOFUELS DEAL LATER ON TUESDAY - USDA DEPUTY SECRETARY CENSKY
|
|
This includes natural gas, solar, wind, hydropower, biofuels, and waste-to-energy — and energy efficiency.
|
|
The biofuels industry praised the deal, insisting that Trump has now come through for farmers.
|
|
Chuck Grassley and Joni Ernst have turned against Pruitt for his stance on biofuels regulations.
|
|
The proposed mandate included 15 billion gallons of conventional biofuels like ethanol, unchanged from 2019.
|
|
As biofuels volume quotas have increased over the years, so have prices for the credits.
|
|
NEW YORK (Reuters) - The worsening financial condition of East Coast oil refiner Philadelphia Energy Solutions will present a new test for America's controversial biofuels policy, legal experts say, revealing whether the government can collect a massive biofuels-related debt from a company in distress.
|
|
Biofuels groups have complained that the Trump administration is granting too many exemptions to the U.S. Renewable Fuel Standard (RFS), which requires refineries to mix increasing amounts of biofuels like corn-based ethanol into the nation's fuel or to purchase credits from rivals that do.
|
|
The White House was expected to host its second meeting in as many weeks on Wednesday about biofuels, this time between the staff of lawmakers representing the rival oil and biofuels industries, fueling speculation that a deal could be struck that would lower credit prices.
|
|
After years of investment and technical glitches, 2G biofuels, or cellulosic biofuels, are seen as the future of green fuels since they can be made from biomass, overcoming criticism about the use of food crops to produce fuel and sharply reducing carbon emissions from vehicles.
|
|
A Reuters review of corporate filings in April showed that Icahn's company had also taken a large short position on biofuels credits - a bet that prices for biofuels credits would fall - that would have yielded big profits if the White House adopted the proposal.
|
|
The administration is expected to announce that it plans to allow exports of biofuels like ethanol to count toward the annual biofuels volume mandates under the RFS - which could ease the burden on domestic refiners by reducing the amounts they would have to blend domestically.
|
|
Many countries are looking to food-based biofuels as a way to reduce emissions from transportation.
|
|
But biofuels such as corn ethanol are incredibly resource intensive and probably don't reduce carbon emissions.
|
|
In environmental terms, he says that gives it an advantage over other biofuels such as ethanol.
|
|
They attribute slow growth in investment in biofuels partly to low oil prices in recent years.
|
|
It would also have expanded sales of high-ethanol gasoline, in a concession to biofuels producers.
|
|
"Biofuels and other sustainable energy is exactly the direction we have got to go," he said.
|
|
Biofuels such as ethanol could be used more extensively to curb emissions from internal-combustion engines.
|
|
The U.S. Environmental Protection Agency has angered the biofuels industry by calling for less biofuel blending.
|
|
I mean, if you're in Iowa, you like the wind credits and you like the biofuels.
|
|
Synthetic biology's push into biofuels was not fundamentally misguided; fossil hydrocarbons do have to be replaced.
|
|
"It certainly could transform the conversation," said University of Illinois economist and biofuels expert Scott Irwin.
|
|
In response, prices jumped for biofuels credits companies use to prove they have met the requirements.
|
|
Other labs are using reverse photosynthesis, where specially designed chlorophyll reacts with sunlight to create biofuels.
|
|
In February, he suggested shifting the responsibility for mixing biofuels into gasoline from refiners to blenders.
|
|
Last year, Exxon gave $1 million to the Colorado School of Mines to study algal biofuels.
|
|
"We're still figuring out the best way to turn them into biofuels at scale," he added.
|
|
He said the company was keen to increase its biofuels production capacity amid growing global demand.
|
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Geothermal power plants use a lot of water; and biofuels have a whole host of problems.
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Biofuels, electricity, plain old gasoline: there are many different ways of fueling cars, buses and airplanes.
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The Advanced Biofuels Association, a rival trade group, said the allegations of illegal dumping were untrue.
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Tyton Biofuels' 55-million-gallon-per-year plant in Raeford, North Carolina, idled a week ago.
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The best available science shows that biofuels hold enormous potential to immediately reduce greenhouse gas emissions.
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Woods vowed that he would continue to work to address climate change, especially through biofuels research.
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Before coming to the distillery, he worked at Helsinki University developing biofuels, growing algae for energy.
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Silva said he convinced Fiagril's owners to focus on the sale of farm inputs and biofuels.
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Biofuels currently make up close to 10 percent of the gasoline used in the United States.
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Trump appeared at an event promoting biofuels and then spoke at a state Republican Party fundraiser.
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Mr. Tillerson has backed a carbon tax and research to advance carbon capture, sequestration and biofuels.
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Politically, the promises of next-generation cellulosic biofuels not sourced from corn have not born out.
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Environmental groups tend to support Democrats, so the candidates' support for biofuels is creating some tension.
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Amazon will do this with improvements in electric vehicles, reusable packaging, aviation biofuels and renewable energy.
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"If [airlines] go heavy on biofuels, that a good start in the right direction," said Takahashi.
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The company is also planning to grow into trading natural gas liquids, biofuels and crude oil.
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It can serve as feedstock for food, biofuels, plastics, and even carbon fiber (see No. 5).
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Last year, United Airlines started using biofuels in all of its flights out of Los Angeles.
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For critics of biofuels, appeals to science and economics are unlikely to sway this political reality.
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Future caps on aviation emissions could, for instance, spur supersonic jets to adopt low-carbon biofuels.
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The biofuels industry has seen a string of failures due to technological issues, changes to subsidies and problems with obtaining sufficient feedstock, particularly in the European Union, which puts limits on how much farmland can be switched from food production to making biofuels, such as ethanol.
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WASHINGTON (Reuters) - The Trump administration is expected on Monday to announce changes in biofuels policies, including a plan to count ethanol exports toward federal biofuels usage quotas and allowing year-round sale of fuels with a higher blend of ethanol, two sources briefed on the matter said.
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It also sees passage in Brazil's lower house of a proposal to boost biofuels use as positive.
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It also means no natural gas, no nuclear power, no carbon capture and sequestration, and no biofuels.
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Under the RFS, refiners must blend certain volumes of biofuels or buy RINs from those that do.
|
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U.S. regulations require refiners to blend biofuels into their gasoline or buy credits from those that do.
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It has previously underestimated renewable sources, such as wind and solar, while over-estimating nuclear and biofuels.
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That's why he and his colleagues are trying to use it to produce new kinds of biofuels.
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The plant's expansion will add products including vegetable wheat protein, specialised industrial wheat starches and advanced biofuels.
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"I believe that DAC-based synthetic fuels will prove cheaper than biofuels and better," he told me.
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PES filed for bankruptcy in January, citing the high cost of complying with the nation's biofuels obligations.
|
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Governments and corporations alike are on the hunt for emissions-cutting biofuels that can be brewed domestically.
|
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The EPA had sought to lower the amount of biofuels that needed to be mixed into fuel.
|
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Marathon, Tesoro Corp and others invested in blending operations in order to meet the annual biofuels requirements.
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The company's financial meltdown has heaped pressure on the White House and lawmakers to address biofuels policy.
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By contrast, renewable energy — including wind, solar and biofuels — now accounts for more than 650,000 U.S. jobs.
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The Renewable Fuel Standard (RFS) requires oil companies blend increasing amounts of biofuels with gasoline and diesel.
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Changing the "point of obligation" would still keep the same amount of biofuels in the fuel stream.
|
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Projections showing an increase in gasoline demand also seemed to promise an expanding marketplace for these biofuels.
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That legislation was due to remove palm oil from a list of permitted biofuels from January 2020.
|
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The program mandates that fuel refiners blend certain levels of biofuels into their standard gasoline and diesel.
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From a climate perspective, there is simply no question that biofuels maintain a clear advantage over oil.
|
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The Environmental Protection Agency (EPA) has backed off its proposal to slightly cut the federal biofuels mandate.
|
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Under Pruitt, the EPA issued mass waivers for small refineries from their annual requirements to use biofuels.
|
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Ethanol producers say they're helping the environment, and advanced biofuels will continue to grow, bringing more benefits.
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Create a bill to ban dumping food into landfills; and instead, convert the wasted food into biofuels.
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The law requires that each year, an increasing percentage of biofuels be blended into our fuel supply.
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"We believe that running biofuels will reduce our CO2 emissions by at least 23 percent," Vice said.
|
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But progress continued, particularly in driving down the costs of alternative technologies like biofuels and EV batteries.
|
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The settlement with Western Dubuque is the second involving the biofuels program in a matter of days.
|
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Icahn was one of the loudest critics of the federal biofuels program called the Renewable Fuel Standard.
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POET will continue to work with other industry leaders to fight for the growth of U.S. biofuels.
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Produced alongside each gallon of biofuels are co-products, including high-protein animal feed and corn oil.
|
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Refiners generate the credits — known as Renewable Identification Numbers, or RINs — when they blend biofuels into gasoline.
|
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The policy requires refineries to blend increasingly large amount of biofuels — mostly corn-made ethanol — with gasoline.
|
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Biofuels seemed to hold great promise a decade ago, but now are little more than an afterthought.
|
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The plan would include an increase to biofuels requirements for 2020 of 1 billion gallons, sources said.
|
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"Biofuels are not helping us environmentally," said Jonathan Lewis, senior counsel at the Clean Air Task Force.
|
|
In fact, when land changes were accounted for, the climate benefit of biofuels was entirely wiped away.
|
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But creating biofuels from waste or fast-growing materials such as bamboo could make them somewhat greener.
|
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Theory had it that biofuels such as corn-based ethanol were an answer to America's energy challenge.
|
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The EPA has quite literally placed the nation's biofuels policy in the hands of the oil companies.
|
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Expectations have mounted that the government's plan for biofuels use through 21.40 will potentially use up inventories.
|
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The rival oil and corn industries have long clashed over Americas biofuels regulation, the Renewable Fuel Standard.
|
|
Negotiators extended energy credits for biofuels and wind power, but not for solar or electric car manufacturers.
|
|
For these workers, the Trump administration's support for homegrown biofuels has been a rare ray of hope.
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It can serve as a nutrient to accelerate the growth of algae to create high-performance biofuels.
|
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White House officials have said the EPA is now considering Icahn's proposed overhaul to the biofuels program.
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How can that be excluded if the report is about environmental and resource conservation impacts of biofuels?
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The increased production of biofuels is a winning strategy for the environment, the economy and energy security.
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"The RFS is a well-designed program," said Brooke Coleman, head of the Advanced Biofuels Business Council.
|
|
Lawmakers from Midwestern states also asked about his views on biofuels, an important market for corn growers.
|
|
Earlier this year, for example, Reuters uncovered Valero's "extensive behind-the-scenes lobbying campaign" against renewable biofuels.
|
|
They are writing a book on the transnational history of biofuels in the United States and Brazil.
|
|
Refiner waivers are outlined in the U.S. biofuels law, the Renewable Fuel Standard (RFS), which was designed to help American farmers by requiring oil refiners to blend certain volumes of biofuels, such as corn-based ethanol, into their fuel each year or purchase credits from those that do.
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|
BERLIN, March 31 (Reuters) - Dutch carrier KLM on Thursday launched the first in a series of 80 flights from Oslo to Amsterdam using a biofuels blend to power an Embraer E190 jet, in a boost for the biofuels industry that has been held back by weak oil prices.
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In Finland a refiner called Neste has made biofuels from the waste products of slaughtered cows and pigs.
|
|
Among the biggest losers from the push toward a lower carbon economy are farmers producing crop-based biofuels.
|
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Argentina is the world's top supplier of soymeal livestock feed and soyoil, which is used in making biofuels.
|
|
Malaysia produced 17.3 million tonnes of the tropical oil, used in everything from cosmetics to chocolate and biofuels.
|
|
RIN prices have risen in recent years as the amount of biofuels required under the RFS has increased.
|
|
With a high use of biofuels in the mix, demand could peak by the late 2020s, he added.
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|
But, he cautioned, it's still not certain that low-carbon biofuels will actually materialize in such large quantities.
|
|
Valero spent about $334 million in the first six months of 2016 on biofuels compliance, the company said.
|
|
This project, the worlds' first biofuels CCS plant, received $141 million in support from the Department of Energy.
|
|
To date, biofuels like the corn-derived ethanol just haven't been able to compete with liquid fossil fuels.
|
|
Amid all this revolutionary talk, young companies in the field made a fateful decision to plunge into biofuels.
|
|
Biofuels could cut that fuel suck, though, whether they're made from fatty cow juices or slimy green scum.
|
|
Valero has filed two lawsuits asking the EPA move the requirements to comply with the biofuels program downstream.
|
|
The change is opposed by biofuels companies and integrated oil companies, which say it will complicate the program.
|
|
Icahn's policy proposal is one of several political events that drove down prices in the biofuels credit markets.
|
|
It has a national air carrier in Qantas that has already experimented with various kinds of aviation biofuels.
|
|
The EPA had sought to lower the amount of biofuels that needed to be mixed into U.S. fuel.
|
|
A group of biofuels advocates challenged the EPA's latest renewable fuel standards after they were released in 2016.
|
|
Argentina's is the world's top exporter of soymeal livestock feed and soyoil, which is used in making biofuels.
|
|
I completely understand why so many former servicemen and women are drawn to employment in the biofuels industry.
|
|
In 2008, he signed a bill that made Massachusetts a leader in the production and use of biofuels.
|
|
Biofuels derived from these sources can yield emission reductions of 90 percent or more when compared to gasoline.
|
|
Already, the RFS has been an effective tool in spurring the development of biofuels sourced from crop wastes.
|
|
But the company's financial meltdown has heaped pressure on the White House and lawmakers to address biofuels policy.
|
|
Refiners are required to blend biofuels into the nation's gasoline pool, but small operations can apply for exemptions.
|
|
They spread disinformation about biofuels and prevent gas stations from offering consumers higher ethanol blends at the pump.
|
|
Icahn's plan would have shifted responsibility for blending biofuels from refiners to companies that operate retail gas stations.
|
|
The RFS requires fuel refiners to blend certain amounts of biofuels like ethanol and biodiesel into their products.
|
|
Ethanol is broadly unpopular in the oil industry, largely because biofuels compete with petroleum products for market share.
|
|
Plus, some biofuels use less-efficient stock feeds, which can emit even more byproducts than traditional jet fuel.
|
|
Five Republican senators in a letter criticized his biofuels policy last month, briefly raising questions about his confirmation.
|
|
The use of algae biofuels will further the use of internal combustion engines in cars over electric batteries.
|
|
It committed billions of dollars to wind and solar projects, and made investments in carbon capture and biofuels.
|
|
The EPA in November slightly raised biofuels volumes mandates for 2018, after previously opening the door to cuts.
|
|
The American biofuels law, for instance, was designed to support soybean and corn farmers, not palm-oil producers.
|
|
Those who work with the fossil fuel industry, like the Koch brothers, don't like the competition from biofuels.
|
|
Some environmentalists oppose the RFS because of its reliance on food-competing row crops for first-generation biofuels.
|
|
In addition to goals for first generation fuels, the EISA laid out ambitious goals for second-generation biofuels.
|
|
A group of Republican senators has asked to meet with President Trump to discuss the federal biofuels mandate.
|
|
All of Shell Energy's electricity will come from renewable sources such as wind, solar and biofuels it said.
|
|
All that electricity used in all those spotlights came from generators powered by biofuels, according to the brand.
|
|
So let's talk about ethanol and other biofuels, a subject some climate-change activists might prefer to forget.
|
|
In recent years, some climate activists — Al Gore notably among them — have owned up to their biofuels mistake.
|
|
The RFS mandates how much ethanol and other biofuels refiners are required to mix into the fuel supply.
|
|
They sell those credits to smaller merchant refiners that don't have the capacity to blend biofuels into gas.
|
|
But Democratic senators had pressed Pruitt on Icahn's influence in the agency's administration of the biofuels standard. Sen.
|
|
Ethanol levels are due to hold steady while other volumes of other biofuels grow in the years ahead.
|
|
Wind, Solar and advanced biofuels offer the American people the ability to produce power without polluting the atmosphere.
|
|
U.S. regulations require refiners to blend biofuels into their gasoline or buy credits to fund those refiners who can.
|
|
That is a major demand by U.S. biofuels producers who are the main suppliers of ethanol imported by Brazil.
|
|
The biggest laggards include fuel economy in cars and trucks, emissions from industrial processes, and advanced biofuels in transportation.
|
|
"It's a big win in this David versus Goliath battle of the biofuels industry against Big Oil," said Broin.
|
|
Around 40 percent of the country's corn supply was used for biofuels in late 2016, according to the USDA.
|
|
These fuels have never scaled up the way Congress envisioned when it expanded the national biofuels mandate in 2007.
|
|
Improved engine technology, more efficient flightpaths and the gradual uptake of biofuels must also play their part, he says.
|
|
We should be developing oil, and gas, and coal, and nuclear, and wind, and solar, and ethanol, and biofuels.
|
|
Refiners are required to blend biofuels into the nation's gasoline pool or buy credits to fund those who can.
|
|
By allowing other vegetable oils to be used in biofuels, the EU was discriminating against palm oil, he said.
|
|
The only currently viable alternative liquid fuels — biofuels —have proven problematic for all sorts of environmental and economic reasons.
|
|
A worst-case scenario for biofuels would be if the Environmental Protection Agency (EPA) lowered domestic biofuel use requirements.
|
|
The most vocal critics were farmers of crops used in biofuels, with French producers calling it a "death sentence".
|
|
Other firms include U.K. based bio-bean, which recycles used coffee grounds and converts them into biofuels and biochemicals.
|
|
That includes 14.8 billion for conventional biofuels, mainly ethanol, up from 14.5 billion for this year, the EPA said.
|
|
The new targets would push biofuels use well through that level toward 10.4 percent of total U.S. fuel demand.
|
|
The renewable fuel standard mandates that certain volumes of ethanol and other biofuels be blended into fuels like gasoline.
|
|
They represent districts in states such as Iowa and Illinois where farmers grow corn for ethanol and other biofuels.
|
|
The district heating system will be modernized with boilers that run on biofuels including wood chips and farm waste.
|
|
Court documents filed by a biofuels advocacy group show that the EPA changed the policy before May 4, 2017.
|
|
The work doesn't have any immediate applications, though there may eventually be industrial uses, such as biofuels and agriculture.
|
|
Biofuels groups have taken the EPA to court over whether the agency has the authority to lower the targets.
|
|
The reasons for the original shift from traditional biofuels to charcoal and then coal are still disputed by scholars.
|
|
Biofuels producers create renewable fuels credits known as Renewable Identification Numbers (RINs) with each gallon of biofuel they produce.
|
|
Monroe, like other merchant refiners, has also taken a hit from rising costs to meet U.S. annual biofuels requirements.
|
|
The EPA under Pruitt has granted hardship waivers to large oil refineries to help them circumvent biofuels requirements. Sen.
|
|
Biofuel groups argued that the waivers reduce demand for biofuels like ethanol and create regulatory uncertainty that dampens investment.
|
|
"This is a throwback to outdated views on biofuels and a big step backwards for the company," he said.
|
|
The company said its biofuels unit, BBGI, is preparing for a public listing for the second half of 2018.
|
|
The RFS requires refiners to blend biofuels like ethanol into their fuel or buy credits from those who do.
|
|
"The same algae can also contain approximately 20 percent lipids, which can be processed into biofuels," the note continued.
|
|
If not rotting in a dump or fertilizing a garden, the grounds end up in animal feed and biofuels.
|
|
RFS requires that refiners blend biofuels like ethanol into their fuel pool or buy credits from competitors who do.
|
|
Opponents of corn ethanol say that other biofuels are more environmentally friendly and result in fewer greenhouse gas emissions.
|
|
Places like Iowa, Kansas, and even oil-rich Texas have invested millions in producing cheap biofuels and wind power.
|
|
They can do this by investing in biofuels, putting up solar arrays or wind turbines, using geothermal technology, etc.
|
|
These merchant refiners have said they are being squeezed by annual government mandates that require increasing volumes of biofuels.
|
|
Brazil first rolled out policies to use more biofuels in 219 after OPEC's supply embargo drove up oil prices.
|
|
The mandate requires refineries to blend increasing large amounts of biofuels, mostly corn ethanol, into the nation's gasoline supply.
|
|
But the administration backed off the idea after corn states said it would weaken the incentive to blend biofuels.
|
|
Last month, the Environmental Protection Agency, the regulator which administers the RFS, slightly increased biofuels volumes targets for 2018.
|
|
The bill retroactively extends tax credits for biodiesel, advanced biofuels and fuel-cell vehicles through the end of 2017.
|
|
The Advanced Research Projects Agency-Energy, which funds long-shot technologies like algae biofuels, got a 16 percent increase.
|
|
The trip came shortly after Mr. Cuomo had signed biofuels legislation that could benefit one of Mr. Catsimatidis' companies.
|
|
Several major car companies are investing in hydrogen fuel-cell vehicles, and Exxon Mobil is investing in advanced biofuels.
|
|
At Saint Laurent, the generators required to run the 414 spotlights that speckled the show were powered by biofuels.
|
|
Unless airlines rapidly transition to biofuels, more runways will almost certainly mean much more carbon dioxide entering the atmosphere.
|
|
France said earlier this month it would take steps to restrict the use of palm oil in producing biofuels.
|
|
A renewed effort to promote the nation's fledging biofuels industry will be a further blow to major oil producers.
|
|
Palm oil is found in roughly half of all supermarket products, says the UN, as well as in biofuels.
|
|
While they provide protein feed for animals, they also produce an abundance of oil, starch and fiber for biofuels.
|
|
By creating a market for biofuels, the RFS encourages U.S. agriculture to efficiently meet growing global demand for protein.
|
|
Biofuels can be used to increase the lubricity of new marine fuels, replacing sulphur as the lubricant, he said.
|
|
One was to count U.S. ethanol exports toward annual biofuels volume mandates, something not currently permitted under the policy.
|
|
It is one path to decarbonization, but not the only one (transportation could theoretically focus on hydrogen, or biofuels).
|
|
After citing a 1999 paper from the Clinton administration that promoted biofuels as a solution to climate change, Stephens goes on to demonstrate how corn-based ethanol and other biofuels actually wound up being "actively harmful" to the environment, with some studies showing they are actually worse for the climate than gasoline.
|
|
The EPA had begun to mull reducing the amount of U.S. biofuels fuel companies would have to add to their fuel supply, but the agency backed off a series of proposed changes to the nation's biofuels policy after a massive backlash from corn-state lawmakers worried the moves would undercut ethanol demand.
|
|
As countries worldwide prepare to deliver on their respective commitments to the Paris climate deal, growing global regulations that favor advanced biofuels and programs that put a price tag on carbon-based fuels are creating a more positive environment, biofuels executives said at the "Forum Brasil Bioeconomia 2018" seminar in Sao Paulo.
|
|
And so the Coalition will be scrutinizing biofuels to ask if they can be a big part of the solution.
|
|
Besides electricity and batteries, they include hydrogen and ammonia, biofuels, synthetic fuels, CCS, and removal of carbon from the atmosphere.
|
|
It requires oil companies to use increasing volumes of biofuels including cellulosic ethanol, which is produced of plant waste material.
|
|
His management of the program had prompted calls from biofuels supporters that the agency release more detail on the waivers.
|
|
The portion of soybeans going to biofuels isn't as large but still represents just over 20 percent of the supply.
|
|
But more radical changes are afoot, too, like replacing jet fuel with biofuels, futuristic wing designs, or even fuel cells.
|
|
It costs more than regular diesel, but under EU rules member countries' fuel mix must include 10% biofuels by 2020.
|
|
A 2011 report from the IEA projects that by 2050, biofuels could provide 27 percent of the world's transportation fuel.
|
|
You called for an end to the renewable fuel standards which mandate that refineries blend biofuels, including ethanol into gasoline.
|
|
The process pioneered by LanzaTech also presents an alternative to traditional biofuels, which are mostly made from corn and sugarcane.
|
|
Then again, cannabis activist Jodie Emery told me hemp biofuels have the potential to shake things up in coming decades.
|
|
Refiners are required to blend biofuels into the nation's gasoline pool or buy credits to fund those refiners who can.
|
|
BACKING BIOFUELS In Iowa, ethanol is not as much a threshold Democratic Party issue as abortion rights or gun control.
|
|
According to a report from the International Panel on Climate Change (IPCC), mass adoption of biofuels is not the answer.
|
|
ExxonMobil insists it shares green investors' concerns about climate change, pointing to investments in biofuels and carbon capture and storage.
|
|
Monte Shaw, head of the Iowa Renewable Fuels Association, said it was true the Obama administration supported the biofuels industry.
|
|
This boosted prices of the biofuels credits as refiners and other fuel companies run through excess inventories of the RINS.
|
|
Prices of these credits jumped after EPA set targets for biofuels use in 2017 that were higher than some anticipated.
|
|
"Any duty of more than 15 percent leaves Argentine biodiesel out of the market," an Argentine biofuels industry source said.
|
|
The ethanol industry has vehemently opposed those proposals, saying they would undermine demand for biofuels and also hurt farm income.
|
|
Biofuels advocates said Pruitt's actions had threatened to undermine ethanol demand as farmers were already struggling with low commodity prices.
|
|
Biofuels advocates, meanwhile, want Trump to drop the issue altogether, and for the EPA to suspend its use of waivers.
|
|
RIN prices dropped sharply after Icahns proposal on the biofuels regulation was reported, the senators pointed out in their letter.
|
|
Shell New Energies was set up in 2016 and focuses on new fuels for transport, including advanced biofuels, and power.
|
|
The RFS was intended to help U.S. farmers by requiring refiners to add more biofuels into gasoline and diesel supplies.
|
|
Indonesia is the world's biggest producer of palm oil, used in everything from snacks and soaps to cosmetics and biofuels.
|
|
The company said it will remain active in energy through several businesses, including financial risk management, biofuels and tanker shipping.
|
|
"Biofuel and agricultural voices do not support the D8 RIN," Brooke Coleman, head of the Advanced Biofuels Business Council, said.
|
|
Those require refiners who cannot blend biofuels, as mandated by the government, to buy paper credits from those that can.
|
|
PES spokeswoman Cherice Corley defended the payments to Carlyle and said the biofuels regulations played a "significant" role its collapse.
|
|
Environmentalists question the benefits of corn-based ethanol, which represents the vast majority of an 18-billion-gallon biofuels industry.
|
|
However, this is not due to biofuels production, but instead to a dramatic drop in federal support for conservation programs.
|
|
Biofuels producers and lawmakers from agriculture states urged the EPA to back off its July proposal to trim the mandate.
|
|
The EPA also jettisoned a proposal to cut biofuels volumes mandates, and another to count ethanol exports against those mandates.
|
|
Airlines represent potentially easy-to-serve customers for biofuels, given the carriers' concentration around airports and their voracious energy needs.
|
|
In 2007, Congress set annual statutory volumes for ethanol, divided into two main categories: total renewable fuel and "advanced" biofuels.
|
|
However, Congress and President George W. Bush designed the RFS to cap corn ethanol and dramatically ramp up "advanced" biofuels.
|
|
The Environmental Protection Agency (EPA) wants to increase the amount of ethanol and other biofuels in the nation's fuel supply.
|
|
We are growing corn and other crops for ethanol and other biofuels, renewable energy sources that will power America's future.
|
|
It aims to preserve specific mandates for other biofuels that are produced through different methods, sometimes from plant waste products.
|
|
It is true that biofuels production has grown tremendously while acreage devoted to conservation programs for farmland has dropped precipitously.
|
|
The amount of convention biofuels, primarily corn-based ethanol, rises to 15 billion, the level envisioned in the RFS statue.
|
|
A collaboration between Craig Venter's Synthetic Genomics and ExxonMobil has yielded "a breakthrough" in efforts to create biofuels from algae.
|
|
Goff had expanded the company's portfolio even before Thursday's deal, buying two refineries, three logistics units and a biofuels firm.
|
|
The plan would include an increase to biofuels requirements for 2020 of 1 billion gallons (3.8 billion liters), sources said.
|
|
The proposal would include an increase to biofuels requirements for 2020 of 1 billion gallons, sources told Reuters on Thursday.
|
|
EPA in July proposed setting biofuels requirements at 20.04 billion gallons in 2020, up from 19.92 billion gallons in 2019.
|
|
The news is a blow to farmers and biofuels advocates, who claim the exemptions hurt demand for corn-based ethanol.
|
|
"Every candidate I know of has used biofuels as a way to bridge that discussion into rural America," he said.
|
|
But perhaps none of this would have mattered much if biofuels had simply been a bit less successful than promised.
|
|
Other measures include total electrification of road and rail services, and using biofuels for long-distance international aviation and shipping.
|
|
Biofuels are diversifying the nation's energy choices, reducing carbon emissions, and moving away from the exclusive use of fossil fuels.
|
|
WA, the companies said on Friday, on hopes that biofuels made from agricultural waste products will gain ground in Europe.
|
|
Palm oil has been used increasingly as a feedstock for biofuels because it is cheaper than locally produced rapeseed oil.
|
|
But that meeting was postponed amid threats by some GOP senators to obstruct Wehrum due to the EPA's biofuels policy.
|
|
If Pruitt wants to lower the price of RINs without cannibalizing the existing biofuels industry, there is a simple solution.
|
|
EPA in July proposed setting biofuels requirements at 20.04 billion gallons in 2020, up from 19.92 billion gallons in 2019.
|
|
"While we are pleased with the EPA and administration's commitment to a 15-billion-gallon target for conventional biofuels, we would like to see final levels for cellulosic and advanced biofuels continue to give producers and stakeholders certainty in their investment in second generation technology," Growth Energy CEO Emily Skor said in a statement.
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Trump's support for the RFS has continued into his presidency, as he has maintained his vocal advocacy for ethanol and the administration has been aggressive in pushing back against trade barriers to U.S. biofuels and seeking input on regulatory reforms that would open a new era of investment and expanded market opportunities for American biofuels.
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Instead, biofuels or synthetic fuels that combine clean hydrogen and CO22018 could be used as "drop-in" fuels in existing engines.
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AFPM and others from the oil industry have spent years lobbying EPA to lower the biofuels requirements, saying they are unachievable.
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The engineered yeast will be a well-understood platform upon which to build extra functions, like generating biofuels or manufacturing pharmaceuticals.
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His proposal was met with praise and calls for broader reform from the petroleum industry and mixed response from biofuels producers.
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Today, a range of sources, from traditional fossil fuels to wind, biofuels and solar are being used to power the planet.
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The standard requires refiners either to blend biofuels into their fuel or purchase the credits, called RINs, from those that do.
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The preference for renewable diesel over other biofuels is because it can be "dropped" straight into a tank with no blending.
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Not so with the ethanol mandate, which requires that 36 billion gallons of biofuels must be mixed into gasoline by 2022.
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Since her breakthrough, researchers (including Dr Arnold herself) have used this "directed evolution" to tailor enzymes to make drugs and biofuels.
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The biofuels company would convert at least a portion of the plant to make renewable diesel, marine diesel and jet fuel.
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U.S. regulations require refiners to blend biofuels into the nation's gasoline pool or buy credits to fund those refiners who can.
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By using wood and other waste, Statkraft may avoid criticism directed at other biofuels that rely on vast tracts of farmland.
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The White House and the Environmental Protection Agency, which administers U.S. biofuels regulations, did not immediately respond to requests for comment.
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Total invested 13 million euros ($310.4 million) to convert the previous loss-making crude refinery so that it now produces biofuels.
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Sugar and biofuels companies usually try to keep their mills close so they better manage cane supply and cut transportation costs.
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The jet fuel blend sold for planes in Oslo now has 0.2 percent biofuels in the test project, he told Reuters.
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A new study from NASA has shown that the jet engines using biofuels have fewer particle emissions in their exhaust trails.
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MARKET-MOVING POLITICS Icahn's policy proposal is one of several political events that drove down prices in the biofuels credit markets.
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On February 27, news broke that Trump – after being advised by Icahn – would be preparing an executive order on biofuels regulation.
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Syed Biabani worked for BP for 22 years, most recently as vice president for business development and licensing at BP Biofuels.
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They want ethanol exports to count as tradable credits toward their renewable fuel requirements, a proposal the Biofuels Caucus members condemned.
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On February 27, news broke that Trump — after being advised by Icahn — would be preparing an executive order on biofuels regulation.
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"Some (Indonesian) companies have already started shipping (to Europe)," said the chairman of the Indonesia Biofuels Producer Association (APROBI), MP Tumanggor.
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The law requires refiners to blend biofuels such as ethanol into gasoline or purchase credits from those who do such blending.
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Biofuels credit prices tied to ethanol dropped by 6 cents, to 583 cents each, after Reuters reported Andeavor's exemption, traders said.
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The difference comes largely from a slightly increased quota for cellulosic biofuels made from non-corn material compared to the proposal.
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The U.S. Renewable Fuels Standard requires increasing volumes of biofuels to be blended into the nations gasoline and diesel every year.
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The agency in late September said it was considering cutting the levels of biodiesel and other advanced biofuels the mandate requires.
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Despite this, Stephens points out, the U.S. continues to deeply subsidize biofuels, and the biofuel lobby remains extremely powerful in Washington.
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If EPA updated its lifecycle emissions models it would show biofuels like ethanol have a dramatically improved carbon footprint over petroleum.
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"We're making good progress in reaching our full (annual) capacity of 100,000 tonnes," said Sari Mannonen, a UPM biofuels marketing executive.
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Farmers want to put this amazing productivity to use growing the economy, but the growth of U.S. biofuels is under threat.
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And new biofuels, like the cellulosic ethanol POET produces at Project Liberty in Emmetsburg, Iowa can slash emissions by 90 percent.
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Unlike "advanced" biofuels, which are scarce and expensive, corn ethanol is a viable product that boosts octane and improves engine performance.
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They could also heavily invest in reforestation, biofuels, and carbon capture, an unproven technology for taking carbon out of the atmosphere.
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A boost for American biofuels is a blow against forces that would wield oil as a weapon against our national interests.
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Back in 2005, when the proposed biofuels regulation was just picking up steam, environmentalists thought they had a can't-miss idea.
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More fuel-efficient planes, wider use of biofuels and ensuring that planes fly at full capacity would help to limit emissions.
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The change is calculated to shore up demand for biofuels such as corn-based ethanol and boost the fortunes of farmers.
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His Environmental Protection Agency has angered farm states by granting more waivers than usual to small refineries, denting demand for biofuels.
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"The biofuels piece, especially ethanol, have been a bright spot to the trade negotiations," a source briefed on the talks said.
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Those rules will seek stop parties from hoarding the credits and driving up the cost of complying with biofuels blending laws.
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Environmentalists also question the benefits of corn-based ethanol, which represents the vast majority of an 18-billion-gallon biofuels industry.
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Reinforcing the weak outlook for ethanol margins on Tuesday, Archer Daniels Midland reported weaker-than-expected earnings, blaming poor biofuels prices.
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AFPM is asking that EPA make the owners of fuel at loading racks responsible for showing the mandated biofuels were blended.
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Pruitt also said the EPA did not believe a proposal to shift the biofuels blending obligation away from refiners was appropriate.
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Behind the scenes, he also worked to revise the E.P.A.'s biofuels rules to lighten the burden on the oil industry.
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The EPA in July proposed setting biofuels requirements at 20.04 billion gallons in 2020, up from 19.92 billion gallons in 2019.
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The pioneers of directed evolution won the Nobel Prize in chemistry last year, having deployed it to make medicines and biofuels.
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Cruise lines are ridding their engine exhaust of harmful sulfides and powering their ships with innovative biofuels made from fish carcasses.
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The result is likely to be at least a near-term doubling down on American biofuels use, no matter the cost.
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Other companies, like United Airlines and Virgin, have started to invest in biofuels that would have lower emissions than jet fuel.
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Other companies, like United Airlines and Virgin, have started to invest in biofuels that would have lower emissions than jet fuel.
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Claudia Ringler, deputy director at the International Food Policy Research Institute (IFPRI), told CNN that biofuels are not a scalable solution.
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Scientists have also raised questions about the ecological footprint of biomass and biofuels, which emit carbon dioxide when they are burned.
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Trump's comments to lift the federal limit were quickly hailed by biofuels groups that have long advocated for the policy change.
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Petrobras has other assets in the biofuels sector in Brazil, including shares in two other ethanol groups and in biodiesel installations.
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In recent years, he built up an 82 percent stake in CVR, making him a player in the niche biofuels market.
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That means interim measures like biofuels are also on the agenda, even as research and development gets moving on electric planes.
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The RFS requires nearly all gasoline to be mixed with ethanol, which is mostly corn-based though increasingly includes other biofuels.
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Though, it's possible that reliable, cheap, alternative biofuels that spew less carbon into the air will one day be widely adopted.
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Now, three years on, bio-bean is an award-winning clean technology company that recycles waste coffee grounds into advanced biofuels.
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Commercial airlines have been using biofuels in some passenger flights since 2011, mixed with conventional petroleum-based fuels in varying amounts.
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The biofuels industry and Democrats blasted his efforts, saying his ownership in refining company CVR Energy created a conflict of interest.
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The corn and oil industries have conflicting interests when it comes to biofuels like ethanol, which compete with petroleum for market share.
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" Senator Charles Grassley, an Iowa Republican, said he told Pruitt during the hour-long meeting "that supporting biofuels isn't just good policy.
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In so doing, it might also bring biofuels back into the conversation as a legitimate way to reduce human-produced carbon emissions.
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The U.S. Commodity Futures Trading Commission, however, said in May that it is not investigating Icahn's activity in the biofuels credits market.
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The biofuels industry and lawmakers representing farm states want the program halted, saying the expansion hurt farmers by eroding demand for ethanol.
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If biofuels don't pan out, there might still be a few other options for decarbonizing air travel, though they're also fairly uncertain.
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In the meantime it plans to use bamboo and other natural products to produce biofuels such as ethanol to blend with petrol.
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The advanced biofuels industry, it is safe to say, has not lived up to expectations, but this is still a neat poster.
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The Koch brothers' have invested in such state-regulated areas as refining, chemicals, biofuels and ingredients; forest products; fertilizers; polymers and fibers.
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The environmental case for biofuels rests almost entirely on their reduced emissions—but those themselves are a matter of intense academic controversy.
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The Commission took a policy U-turn away from crop-based biofuels over criticism the same land was better used for food.
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KLM Royal Dutch Airlines is attempting to lessen the environmental impact of air travel by investing in biofuels to help aircraft fly.
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The former U.S. vice president has pledged support for advanced biofuels as part of his bid for the 2020 Democratic presidential nomination.
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The proposal's roughly 10,400 words did not include "ethanol," although Biden did explicitly support advanced biofuels, which fall under the RFS umbrella.
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Yet a decade on, biofuels account for less than 1% of the 1.5bn barrels of fuel burned each year by commercial airlines.
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The U.S. Renewable Fuel Standard (RFS), overseen by the EPA, requires biofuels such as ethanol to be blended into gasoline and diesel.
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Norway's parliament will debate on June 19 whether to oblige jet fuel sold in Norway to have one percent biofuels from 2019.
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"Extra taxation is limiting our possibility to invest in biofuels and take steps for a sustainable future," said spokesman Knut Morten Johansen.
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Oil companies use Renewable Identification Numbers, or RINs, to prove they are meeting government mandates to use biofuels including ethanol and biodiesel.
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This will require machines that scrub carbon dioxide out of the air as well as biofuels coupled with carbon capture and sequestration.
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If they're talking about algae, for example, algae biofuels are very helpful to them because it can be used in combustion engines.
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California collects data on biofuels sold or produced in the state, calculating lifecycle greenhouse gas emissions and informing low carbon fuels standards.
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But objections from several developing countries meant that the criteria for sustainable biofuels were provisionally scaled down to two from 12 originally.
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Refiners that are unable to blend biofuels into their fuels are required under the RFS to buy credits from rivals that do.
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Icahn has long been a critic of the Renewable Fuel Standard, which requires refiners to blend ethanol and other biofuels with gasoline.
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The mandate requires fuel refiners to blend a certain amount of ethanol, biodiesel and other biofuels into their fossil fuels every year.
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The Renewable Fuel Standard program, launched in 2005, requires refiners to blend biofuels with petroleum-based transportation fuels like gasoline and diesel.
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In addition, Pruitt should also roll back the biofuels mandate that requires ever-increasing amounts of ethanol to be mixed with gasoline.
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" Senator Charles Grassley, an Iowa Republican, said he told Pruitt during the hour-long meeting "that supporting biofuels isn't just good policy.
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Biofuels and fertilizers are made from seaweed, and it's used to treat a variety of ailments like arthritis, rheumatism, and radiation poisoning.
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But ethanol producers had lobbied for years against the proposed change, saying it would undermine biofuels policy by making it too complicated.
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"It falls woefully short of the presidents advance billing," Gene Gebolys, chief executive of the biofuels producer World Energy, told the hearing.
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The RFS requires oil refiners to blend biofuels into the nation's fuel pool or buy tradable compliance credits from those who do.
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Another incentive for fuel distributors to do that is the new federal policy to boost biofuels, called RenovaBio, which starts in 2020.
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In 2008, Coskata said that it could produce biofuels for less than $1 per gallon using cornhusks, wood chips, and municipal trash.
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President Trump, who ran on a platform of supporting the RFS, personally asked Pruitt not to change the biofuels standard last month.
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The oil industry has opposed the regulation, mainly because the increasing biofuels volume mandates cut into their petroleum-based fuel market share.
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His father is a mechanical engineer for the Flint Hills Resources Company, a refining, chemicals, polymers and biofuels company, also in Houston.
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IRENA says that the estimated number of people working in biofuels reached over 1.7 million last year, representing a 2 percent increase.
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The agency plans to mandate that 28503 billion gallons of biofuels be blended into the country's gasoline and diesel supply next year.
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Under the Renewable Fuel Standard, refiners who blend biofuels like ethanol into gasoline generate credits called Renewable Identification Numbers, known as RINs.
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Shell has been a big investor in Brazilian biofuels, while Chevron has long been one of the biggest investors in geothermal energy.
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|
In 2008, Patrick signed a bill into law that made the Bay State a leader in the production and use of biofuels.
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|
And more and more farmers, businesses and biofuels developers are turning to non-fuel bioenergy like power, bioproducts and renewable chemicals production.
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|
Icahn is currently under investigation by the U.S. Justice Department for his role in influencing biofuels policy while serving as Trump's adviser.
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|
For context: The law had envisioned 5.5 billion gallons of biofuels made from cellulosic material like switchgrass to be produced last year.
|
|
Such vessels usually can be powered by batteries or biofuels, for example, and maintain a fossil fuel alternative as a back up.
|
|
United Airlines is beginning to use a biofuels blend in some of its flights between Los Angeles and San Francisco, ArsTechnica reports.
|
|
It has devoted most of the $200 million it has raised to industrial chemicals; it has not spend $300 million on biofuels.
|
|
In 2007, he and other lawmakers were focused on the benefits of biofuels and the bridge they promised to even greener technologies.
|
|
When Nancy Pelosi took the stage, she looked back on the 2007 fuel-economy bill and biofuels mandate she shepherded into law.
|
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I asked how important the American biofuels mandate has been, given that other countries buy more Indonesian palm oil than Americans do.
|
|
Oil refiners say the requirements cause undue financial strain, while corn and biofuels supporters say the waivers reduce demand for their products.
|
|
Higher prices for California carbon credits tend to lead to higher premiums for advanced biofuels, with smaller carbon footprint, the analyst said.
|
|
Initially, aircraft makers and airlines are also focused on developing biofuels and on improvements in airplane efficiency, according to an ICAO report.
|
|
Further, while biofuels expansion has indeed added value to agricultural products, most farm commodity prices are at or near pre-RFS levels.
|
|
The Energy Independence and Security Act (EISA) of 28500 established ambitious goals for blending biofuels into the nation's surface transportation fuel supply.
|
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Promoting second-generation biofuels requires clear and reliable policy signals, and meaningful and efficient price incentives – especially for new and emerging technologies.
|
|
Biofuels producers have long pushed the EPA to scale up the quotas, while refiners and the oil industry have urged the opposite.
|
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At recycling sites, the waste is processed: Part is used for biofuels, while some is turned into fertilizer to help urban farms.
|
|
Those rules will seek to stop parties from hoarding the credits and driving up the cost of complying with biofuels blending laws.
|
|
The RFS requires refiners to blend certain volumes of biofuels like ethanol each year or purchase blending credits from those that do.
|
|
Both men in the past have criticized the Renewable Fuel Standard (RFS), which requires biofuels like ethanol to be blended into gasoline.
|
|
"We are on a path to de-carbonise but we can't do it alone," Scherer said, calling for investment in sustainable biofuels.
|
|
But a separate biofuels group, the Renewable Fuels Association, offered its support for the proposal in exchange for another policy trade-off.
|
|
The biofuels, which can come from sources like natural oils, seaweed and agricultural waste, can help reduce planet-warming emissions from aviation.
|
|
The rival ICE exchange is also contemplating offering an alternative to CME's product after discussions with frustrated biofuels companies, Reuters previously reported.
|
|
But the availability of all biofuels, even those from energy crops, is constrained by the shortage of land to produce raw materials sustainably.
|
|
U.S. law requires fuel companies to add biofuels like ethanol to the country's fuel supply through the 'renewable fuel standard,' adopted in 2005.
|
|
The long-term outlook for the agriculture industry is favorable given higher consumption of protein in developing countries and increasing demand for biofuels.
|
|
The EPA also requested comments related to concerns that the biofuels requirements increasingly are being met by supplies from Brazil, Argentina and Indonesia.
|
|
That gamble involved $186 million worth of biofuels credits the company said it needed at the end of 2016 to satisfy regulatory requirements.
|
|
Currently, Icahn is under investigation by the U.S. Department of Justice for his role in influencing biofuels policy while serving as Trump's adviser.
|
|
SA, the world's No. 1 eucalyptus pulp producer, and biofuels and logistics giant Raízen Energia SA tapped global bond markets a day later.
|
|
The White House deal would have eased pressure on the refining industry by allowing biofuels exports to count toward the annual volumes quotas.
|
|
Since her breakthrough, researchers (including Dr Arnold herself) have used this process of "directed evolution" to tailor enzymes to make drugs and biofuels.
|
|
The airline plans to adopt Neste biofuels, made from recycled organic material, which emit up to 80 percent less carbon than traditional fuel.
|
|
Oil use in passenger transport and freight would plummet over the next 25 years, to be replaced by electricity, natural gas and biofuels.
|
|
The company's innovative technology and potential to shake up the biofuels space earned LanzaTech the No. 15 spot on CNBC's 2019 Disruptor list.
|
|
To regulate the system, in 2005 Congress established the Renewable Fuel Standard, which mandates that certain amounts of gas be supplemented by biofuels.
|
|
Eng Hian Ong joined on biofuels, having previously traded a variety of petroleum products from fuel oil to LPG with Trafigura and others.
|
|
Under the leadership of John and David, Koch Industries was involved in oil refining, chemicals, biofuels, pipelines, commodities trading, ranching, fertilizer and paper.
|
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Europe accounts for 15 percent of the company's exports, Golden Agri said, and is used for purposes beyond biofuels, such as food production.
|
|
Cheap energy, in turn, cut the cost of agricultural production and dampened demand for biofuels, leading to lower prices for grains and soyabeans.
|
|
Further green fuel initiatives will be rolled out throughout 2016, with aircraft and amphibious vehicles also burning biofuels like grade-A bovine juice.
|
|
Oil companies including refiners can either blend biofuels or buy the compliance credits, known as Renewable Identification Numbers (RINs), from those that have.
|
|
BP's renewable-energy assets still operating from its Beyond Petroleum days include more than a dozen U.S. wind farms and biofuels in Brazil.
|
|
In the first half of 2018, biofuels for road traffic made 70 percent of Neste's core profit of 679 million euros ($777 million).
|
|
Venture capital investors flocked to invest in renewable technologies — from biofuels to new solar energy generating technologies to new battery chemistries and beyond.
|
|
Andeavor sold some 100 million of those credits to its competitors in recent weeks, according to two brokers in the biofuels credit market.
|
|
Big picture: The subpoena opens a new front in what has been an intense lobbying and political battle over the federal biofuels mandate.
|
|
But what if you could grow biofuels on land nobody wants, using just seawater and sunlight, and produce food at the same time?
|
|
The agency in September took a rare step by proposing to reduce the levels of biodiesel and advanced biofuels the mandate would require.
|
|
Driving the news: She'll be defending a federal mandate that requires refineries to blend biofuels — mostly corn ethanol — into the nation's gasoline supply.
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|
"Shifting the point of obligation would add complexity for businesses, decrease the use of biofuels and potentially increase costs for consumers," he said.
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|
These included a $150 million financial hole in its Latin American operations and $200 million in unauthorised trading losses on its biofuels desk.
|
|
In Malaysia, biodiesel producers must follow so-called B7 production rules, meaning that biofuels must have a minimum bio content of 7 percent.
|
|
In "Climate of Unintended Consequences," Stephens doesn't attack all renewable energy—just controversial biofuels, which are produced from organisms like corn and sugarcane.
|
|
The long-term outlook for the agriculture industry remains favorable given higher consumption of protein in developing countries and increasing demand for biofuels.
|
|
The document, made public last week, was prepared in response to government calls for public comment on its RenovaBio program to boost biofuels.
|
|
Petrobras' new position on biofuels has surprised former partners including Donizete Tokarski, who heads the biodiesel association Ubrabio which supports the government program.
|
|
These included a $150 million financial hole in its Latin American operations and $200 million in unauthorized trading losses on its biofuels desk.
|
|
The RFS currently requires refiners to cover the cost of blending increasing volumes of biofuels like ethanol into the nation's fuel each year.
|
|
Total paid $1.3 billion for a majority stake in California-based SunPower and has also invested in other renewable energy ventures including biofuels.
|
|
With just over 720,000 people working in solid biomass, IRENA describes it – along with liquid biofuels and biogas – as being a "major" employer.
|
|
Creating an engine capable of running on biofuels would lower emissions, although there is a limited supply of such fuel available, he said.
|
|
As for hydro, it, too, affects the local ecosystem; and biofuels, waves and tides at scale all have environmental effects of their own.
|
|
Biofuels advocates and the EPA have said refiners ultimately recoup RIN costs by including them in the price of the products they sell.
|
|
Biofuels represent a promising option, but limited availability right now, combined with certification requirements, makes it too expensive to be a practical option.
|
|
KLM last week announced a deal to develop and buy biofuels from Europe's first sustainable aviation fuel plant, due to open in 2022.
|
|
Worse, it jeopardizes American farmers and hundreds of thousands of workers who rely on a growing U.S. biofuels market to support their jobs.
|
|
In the last few years, however, the advanced biofuels RINs requirements have started to come in to force and generate a new market.
|
|
For example, airlines (United, Cathay, JetBlue, Southwest, Qantas, British Airlines, Canada Air) are investing in and buying biofuels because of international policy requirements.
|
|
Logan also says Exxon's report doesn't assume much, if any, electrification of big trucks, which further bolsters the company's positioning in algae biofuels.
|
|
This is very similar to recent developments where high oil prices led to shale in the U.S., oil sands in Canada and biofuels.
|
|
Instead of buying and blending renewable biofuels, the oil industry chose another oxygenate to meet their obligations: methyl tertiary butyl ether, or MTBE.
|
|
That squeezed margins and costs rose for renewable fuel credits, which refiners can earn by blending biofuels like ethanol into gasoline and diesel.
|
|
The plant, which reached break-even late in 2015, improved profitability further in 2016, said Sari Mannonen, the head of UPM's biofuels business.
|
|
Under the RFS, refiners must either blend biofuels like ethanol into their fuel pool or, like PES, buy credits from those who do.
|
|
But advanced biofuels have hovered on the edge of commercial viability for as long as I can remember, forever disappointing people's high expectations.
|
|
Biofuels are made from plants, and when burned release carbon dioxide that the plants absorbed while growing, so net emissions are much lower.
|
|
Since their carbon came from the atmosphere rather than from underground reservoirs, biofuels can in theory be carbon neutral, or close to it.
|
|
"Refiners have held E15 hostage for years, and they always want more," said Brooke Coleman, executive director of the Advanced Biofuels Business Council.
|
|
However, regulatory uncertainty centred on financial support incentives to manufacturers has choked investment since the approval of a national biofuels strategy in 2007.
|
|
Adding to the complexity is that researchers have come to opposite conclusions about the value of biofuels as a solution to climate change.
|
|
The petroleum industry is pulling out all the stops to protect their market share as biofuels have succeeded beyond what they can control.
|
|
The EPA decision in 2015 required oil refiners blend 18.11 billion gallons of biofuels into their gasoline and diesel supply the following year.
|
|
The letter comes after the senators twice asked the White House and Icahn for information about his biofuels dealings but received no response.
|
|
Allow the biofuels market to grow, meaning more physical gallons of renewable fuel would be available for compliance and RIN values would fall.
|
|
Refiners are required to blend increasing amounts of biofuels like ethanol into the fuel pool annually, or buy credits from competitors who do.
|
|
"However, we need clear (IMO) guidelines and legislation about marine biofuels' properties, such as viscosity, to better prepare (for the demand)," An said.
|
|
The tax would only apply to oils used in food, not cosmetics and biofuels - two sectors in which vegetable oils are widely used.
|
|
The policy has helped farmers by creating a huge market for ethanol and other biofuels, but oil refiners say compliance is prohibitively expensive.
|
|
The proposed mandate also includes 5.04 billion gallons of advanced biofuels, like those made from agricultural wastes, up from 4.92 billion in 2019.
|
|
The five were due to meet with Wheeler later on Wednesday night to discuss biofuels, according to two sources familiar with the matter.
|
|
Chuck GrassleyCharles (Chuck) Ernest GrassleyGOP senators call for Barr to release full results of Epstein investigation Trump health official: Controversial drug pricing move is 'top priority' Environmental advocates should take another look at biofuels MORE (R-Iowa), raising the possibility of holding up the nomination if the White House doesn't back off its plan to water down the biofuels mandate. Sen.
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"This move is in line with Shell's strategy to develop biofuels" that use sustainable feedstocks, Shell spokeswoman Natalie Mazey said in an emailed statement.
|
|
Record corn prices from 2600 to 217, driven by the world's growing appetite for meat and biofuels, encouraged farmers to plow up more land.
|
|
Controlling the balance of microbes in different settings might provide new ways to treat or prevent various illnesses, improve crop productivity or make biofuels.
|
|
Since August, when the EPA announced waivers for 2018, the Trump administration has tried to mend fences with the biofuels industry and corn lobby.
|
|
The decision marks a setback for the oil industry, which views biofuels as competition for its petroleum-based fuels and has threatened to sue.
|
|
U.S. ENVIRONMENTAL PROTECTION AGENCY SAYS THERE IS 'ZERO EVIDENCE' SMALL REFINERY WAIVER PROGRAM FOR BIOFUELS HAS HAD ANY NEGATIVE IMPACT ON CORN ETHANOL PRODUCERS
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Most airlines that use biofuels, however, are restricted in terms of how many flights they can provide biofuel for due to its limited availability.
|
|
Using biofuels for shipping is "a wasted opportunity to store CO2 and is only viable in very limited quantities," according to Smith at UCL.
|
|
A few other futuristic ideas that could help reduce the airline industry's carbon footprint are also being tested, things like biofuels and electric engines.
|
|
In line with focusing on oil and gas production, Petrobras said it will exit the biofuels business by selling ethanol and biodiesel production assets.
|
|
But backing biofuels typically is important for political success in the state, said Cary Covington, a political science professor at the University of Iowa.
|
|
Renewable fuel credit prices are down sharply since late last year because of the EPA waivers, which biofuels advocates say have undercut ethanol demand.
|
|
Under Pruitt, the EPA consistently ignored recommendations from the Energy Department to reject or limit waivers to oil refiners seeking exemptions from biofuels laws.
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"This announcement follows ... Petrobras' Divestment plan in September 2016 which provides for the exit of all biofuels production activities," Tereos said in a statement.
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These included his appointment of Icahn - a vocal critic of biofuels credit mandates - as an unpaid "special advisor to the President" on regulatory issues.
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The amount of money the firm is ultimately forced to spend on biofuels credits depends on their price when it decides to purchase them.
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Some Democratic lawmakers and biofuels advocates have argued that Icahn's policy recommendations to the Republican administration create a conflict of interest with his investments.
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This forces smaller players that require credits to scramble to buy them, often at higher prices, so they can comply with the biofuels law.
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These included his appointment of Icahn — a vocal critic of biofuels credit mandates — as an unpaid "special advisor to the President" on regulatory issues.
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The law requires the refining sector to blend increasing amounts of biofuels such as corn-based ethanol into the nation's fuel supply each year.
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According to the WWF, "swathes of forests and other valuable ecosystems are often cleared" in order to grow the crops used to make biofuels.
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The current product focus represents a change of tack from the first widely tipped application of synthetic biology in making biofuels from engineered algae.
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Read: Middle East towers race to be world's tallest Read: Beirut's crumbling architecture heritage Read: Could biofuels for planes be grown in the desert?
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Other types of biofuels, especially cellulosic, have not developed nearly to the extent Congress had intended when it set quota levels in the statute.
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If Trump is looking to increase demand for fossil fuel, reducing requirements to increase dependence on biofuels such as ethanol could be one path.
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The changes being reportedly dropped by the EPA are a reduction in biodiesel requirements, and a proposal letting exported biofuels count toward domestic quotas.
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CVR Refining, controlled by billionaire Trump ally Carl Icahn, reported a rare $23 million profit in the biofuels credit market in the first quarter.
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Traditional biofuels may have been becoming more scarce, but it was the increasing availability of coal and its decreasing price that drove the transition.
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"We are expecting a modest increase in advanced and no change to the 15 billion" for conventional ethanol, said a U.S. biofuels industry source.
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He added that the company was considering expanding renewable energy projects, including its biofuels operation in Brazil, despite the ongoing recession and political turmoil.
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In their own time-honored fashion, they even cite oil-funded studies that seek to cast doubt on the accepted climate science behind biofuels.
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This system delivers safe, affordable and nutritious food for over 28500 million Americans, along with fiber, biofuels and forestry products for homes and industry.
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AROUND THE WEB: Executives of a former biofuels company in Pennsylvania were indicted on federal biodiesel fraud charges Thursday, the Harrisburg Patriot News reports.
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Congress recognized that when it required the EPA to consult the U.S. Department of Energy and the U.S. Department of Agriculture (USDA) on biofuels.
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A decade or so ago, biofuels seemed to have great potential to help wean the country off fossil fuels to reduce greenhouse gas emissions.
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On the other side are energy companies who says the biofuels rules risk the nation's energy security by threatening to tip refiners into bankruptcy.
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MI and Chevron to develop liquefied natural gas (LNG) for its Soyo plant, the newly formed national oil, gas and biofuels agency ANGP said.
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While much of the debate around RFS is focused on corn ethanol, the federal mandate is also helping to develop Advanced Biofuels like biodiesel.
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Soyabean consumption has been accelerating at 5 per cent a year — even more than corn, the main beneficiary of an aggressive US biofuels programme.
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Between burning bridges with all of our biggest trading partners and undermining our domestic biofuels industry, President Trump is making things worse, not better.
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Existing subsonic aircraft use a blend of biofuels and conventional jet kerosene to ensure the quality of the fuel does not harm the engine.
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"I suspect Wheeler would be more invested in maintaining the reputation of the agency," a biofuels industry participant said, asking not to be named.
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Refiners also want to limit speculation in the trading of credits and allow exports of ethanol and other biofuels to qualify under the program.
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Tesoro Corp and Marathon Petroleum Corp, companies that have invested in biofuels blending capacity, expressed support for the EPA's move toward denying the change.
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Both issues fall under the nation's Renewable Fuel Standard, a 2005 program that requires American refineries to blend biofuels into transportation and heating fuel.
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The policy has helped farmers by creating a huge market for ethanol and other biofuels, but oil refiners say compliance can cost a fortune.
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Under the Renewable Fuel Standard, refineries must blend certain volumes of biofuels into gasoline and diesel fuel or purchase credits from those that do.
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The decade-old regulation requires U.S. refiners to blend biofuels like corn-based ethanol into their fuel, or buy credits from those who do.
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D.) and Bob Dole (R-Kan.) led an effort to require oil companies to use more biofuels to improve the combustion efficiency of gasoline.
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Policies that result in higher efficiency engines, less pollution, lower emissions, and allow for higher blends of emissions-friendly biofuels are certainly worth considering.
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Many of the start-ups at the San Francisco event are trying to use greenhouse gases to produce valuable chemicals like fertilizers and biofuels.
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"The waivers are reducing demand for biofuels and decreasing the value of our crop," said Matt Frostic, president of the Michigan Corn Growers Association.
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The RFS is a government mandate that creates a market for biofuels, and therefore creates a market for corn, and therefore helps Midwestern farmers.
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GM has focused on alternative propulsion before, exploring biofuels and hydrogen, as well as developing the pioneering EV-1 electric car in the 1990s.
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Airlines, plane-makers, and engine-makers will scramble to find interim solutions, including biofuels, better resource management, and incremental improvements in airplane engine efficiency.
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The EPA has locked in high production levels for the most damaging biofuels next year, while giving essentially no support to the best fuels.
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In their letter, the senators pointed out that RIN prices dropped sharply in late February after Icahn's proposal on the biofuels regulation was reported.
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Icahn's appointment also contributed to a continuing drop in biofuels credit prices on Thursday as well as shares of the companies that produce them.
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Trump's EPA had unveiled the plan here last week to boost U.S. biofuels consumption to help struggling farmers, but didn't provide an exact figure.
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Under the new mandate, fuel refiners must sell 4.92 billion gallons of advanced biofuels made from plant and animal waste mixed with fossil fuels.
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READ: UAE seeks 'brilliant minds' for latest space project READ: Lebanon's astrophotographers aim for the stars READ: Could biofuels be grown in the desert?
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Limits on conventional biofuels in transport will be frozen at the national level at 2020 but must not surpass 7 percent, the text says.
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BIOFUEL LEVELS TO STAY STEADY IN 2018: The Environmental Protection Agency (EPA) has backed off its proposal to slightly cut the federal biofuels mandate.
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DOE has a variety of offices that direct early-stage research into solar, wind, nuclear, biofuels, batteries, carbon capture for coal, and other technologies.
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Pruitt's EPA granted 25 refiners waivers to annual requirements to mix in biofuels on the grounds that the regulation causes these refiners economic hardship.
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Europe — after years of grandstanding — is finally going to revise its biofuels policy to reduce imports of climate-intensive alternative fuels like palm oil.
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The RFS requires refiners to blend increasing amounts of biofuels into their fuel each year, or buy credits, known as RINs, from those that do.
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Development of cellulosic biofuels has been slower than expected by lawmakers when they set up the program, stymied by regulatory delays and the economic downturn.
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Regardless, the finding paves the way to potentially using a genetically modified version of this tiny microorganism to efficiently produce biofuels that are carbon neutral.
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Crispr, the transformational gene-editing system being harnessed to make climate-resistant crops, more bountiful biofuels, and cutting edge therapies, was passed over this year.
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Goals of the project also include using the information gathered to develop new therapies for disease, new biofuels, and new biomaterials that could benefit humans.
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The RFS requires oil refiners to blend increasing amounts of biofuels like ethanol into their fuel each year, or purchase credits from those that do.
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Reuters also reported that Andeavor, one of the country's largest refiners, also received EPA exemptions from the biofuels law for three of its smallest refineries.
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The policy was designed to cut greenhouse gas emissions, reduce U.S. reliance on oil imports and boost rural economies that provide the crops for biofuels.
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Marie Caujolle, a spokesperson for Airbus, told me that current estimates suggest aviation biofuels are about three to four times as expensive as jet fuel.
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Whether it's large-scale energy storage, advanced biofuels, or next-generation nuclear reactors, clean energy innovation is an essential part of any sensible climate policy.
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We have to start using natural gas and more biofuels as a source of transportation fuel," he said in an interview with CNBC's "Power Lunch.
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But it also proposes to eliminate the arm of the Energy Department that has funded advanced research in technologies like solar, wind, biofuels and batteries.
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The biofuels program was launched more than a decade ago to boost the use of renewables to cut greenhouse gas emissions and promote energy independence.
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The RFS currently requires refiners to cover the cost of blending increasing volumes of biofuels like corn-based ethanol into the nation's fuel each year.
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The EPA said in a statement on Tuesday there was "zero evidence" that the refinery waivers have hurt demand for ethanol, which biofuels producers dispute.
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Mahathir's comments, carried in on opinion column for news agency Bloomberg, follow a move by the EU to phase out palm oil usage in biofuels.
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The lawmakers are now reviewing and proposing amendments to EU draft targets on biofuels, which will then go before the European Commission and member states.
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Even at its projected fuel cost of $1 a liter in the early 2020s, A2F will still be more expensive up front than many biofuels.
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In the short term, a synthetic yeast genome could lead to the creation of designer yeast for manufacturing of vaccines, medicines and more sustainable biofuels.
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Prices tanked on December 7 after Trump appointed Scott Pruitt - a critic of biofuels regulation - to lead the Environmental Protection Agency, which implements those rules.
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Those credits once cost just a few cents, but the price has risen with more ambitious requirements for biofuels use to cut greenhouse gas emissions.
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Under the new EU law, the use of more harmful biofuels will be capped at 2019 levels until 2023 and reduced to zero by 2030.
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Odebrecht, which has about 100 billion reais in obligations, borrowed heavily in the past decade as it expanded its business into defense, shipbuilding and biofuels.
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The Finnish company is hoping to get a boost for its biofuels business in the coming years from proposed reductions of CO2 emissions in aviation.
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Icahn, owner of the oil refining company CVR Energy, was one of the loudest critics of the federal biofuels program called the Renewable Fuel Standard.
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The U.S. Renewable Fuel Standard (RFS) requires refiners to blend biofuels like ethanol into their fuel pool or buy compliance credits from competitors who do.
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Under the RFS, refiners must cover the costs of blending increasing volumes of biofuels such as ethanol into the nation's gasoline and diesel each year.
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Prices tanked on December 7 after Trump appointed Scott Pruitt — a critic of biofuels regulation — to lead the Environmental Protection Agency, which implements those rules.
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But the industry in 2018 produced only around 20 billion, with advanced biofuels - made from things like corn fiber and algae - posting the biggest shortfalls.
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It also listed, seemingly in order of importance, domestic energy sources as follows: solar, wind and waves, hydropower, geothermal, biofuels, oil and gas, and coal.
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The EU executive has proposed cutting by nearly half the use of crop-based biofuels, which include ethanol, to a maximum 3.8 percent by 2030.
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To supply the food, feed, fiber and biofuels the world needs in the coming decades, we need smart regulatory systems that can balance multiple requirements.
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Officials from oil-rich states, including U.S. Senator Ted Cruz of Texas, want EPA to change biofuels laws to reduce the burden on fuel producers.
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The mandate also has attributes that in hindsight have proven problematic, such as setting biofuels quotas by volume, not as percentage of total gasoline supply.
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Meanwhile, biofuels producers like Archer Daniels Midland Co and Green Plains Inc would be key beneficiaries of use of higher ethanol blends, the note said.
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While the industry is seeking new renewable fuel sources, growing biofuels takes up valuable land and water that could be otherwise used to grow food.
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Wednesday's plan marked the final RFS mandates from the Obama administration, which biofuels advocates previously said had fallen short of targets to promote their fuels.
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Go deeper: The RFS, created by a 2005 law and expanded in a 2007 statute, requires growing amounts of biofuels in nation's transportation fuel mix.
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"After four straight years of declining agricultural income, your steadfast support of homegrown biofuels has been a lifeline for the farm economy," the group wrote.
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But the increase in waivers has incensed the U.S. corn lobby, which claims Trump's EPA is undermining demand for biofuels such as corn-based ethanol.
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Though Brazil's pulp industry is booming, it is on the lookout for new uses for its eucalyptus timber, from biofuels to green substitutes for plastics.
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Biofuels advocates say instances of crime are rare and that the program has helped boost use of renewable fuels and created jobs in rural America.
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For biofuels, the environmental benefits of which have fallen under increasing scrutiny in recent years, that differentiation is ever more important, executives and advocates say.
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If they sell more biofuels, their targets in the following year will be smaller, and they will need to buy fewer carbon credits to comply.
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Other refiners and Pennsylvania officials have also blamed biofuels regulation for the South Philadelphia refinery's failure, triggering renewed debate about the program on Capitol Hill.
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Unable to produce commercial volumes of biofuels, Coskata switched to using natural gas in 2900, only a year after the USDA awarded the loan guarantee.
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"The amendment aims to leave a sufficient transition period for French companies to prepare for the end of palm oil in biofuels", the text said.
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The transportation sector would be affected by how vigorously the next administration pursues enhanced fuel economy standards and research for advanced biofuels and vehicle technologies.
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Another reason the EPA should raise biodiesel volume levels is because the Obama Administration has made addressing climate change and developing Advanced Biofuels top priorities.
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She would not say how much the fuel would cost, but that, with subsidies available for biofuels, it would be competitive with conventional jet fuel.
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The company also argues that it is working to curb climate change through research into carbon capture and sequestration and advanced biofuels made from algae.
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In an ideal world, they would be right; biofuels, which are not subsidized by the government, are highly competitive with gasoline as an automobile fuel.
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Billionaire investor Carl Icahn has been subpoenaed by federal prosecutors in New York over his role advising President Donald Trump on a federal biofuels program.
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This federal program allows homegrown biofuels to supply a growing share of our energy needs, which is currently about 10 percent of all motor fuel.
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The U.S. Renewable Fuel Standard requires refiners to blend biofuels like ethanol into their fuel each year or buy compliance credits from competitors that do.
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Witness after witness would tell us about the incredible advances public-private R&D was making in fast growing sectors like solar, wind and biofuels.
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Such a move, if enacted, would have shifted responsibility for biofuels down the fuel supply chain, saving refiners hundreds of millions of dollars a year.
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"President Trump pledged to support biofuels during his campaign," said Republican U.S. Senator Chuck Grassley of Iowa in a statement emailed to Reuters on Thursday.
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Growing demand for palm from biodiesel producers is expected to support prices this year, with the Indonesian and Malaysian governments pushing the use of biofuels.
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Ethanol: The years-long battle over the Renewable Fuel Standard — the biofuels blending mandate that many API members strongly oppose — isn't going away anytime soon.
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The news shook the market for biofuels compliance credits and whipsawed some grain prices as traders fretted over how to position ahead of any changes.
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He interviewed Scott Pruitt, now the administrator of the Environmental Protection Agency, the very agency that would determine regulations about requiring refiners to blend biofuels.
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The regulation requires refiners to blend increasing volumes of ethanol and other biofuels into their fuel each year or purchase credits from those that do.
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The agency has authority to enforce this mandate, which requires refineries to blend an increasingly large amount of biofuels, mostly corn-produced ethanol, with gasoline.
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The Union of Concerned Scientists has issued a new report that takes a high-level look at three key transportation fuels: gasoline, biofuels, and electricity.
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Technologies like electrification and carbon-neutral biofuels are decades away from reaching the scales needed to make a dent in the rising emissions from aircraft.
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In 2005 the European Union launched the world's most ambitious carbon-trading program to much fanfare: It has been beset by corruption and mismanagement. Biofuels?
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And if even a fraction of these emissions are counted as land-change effects in the process of evaluating biofuels, the scales are forcefully tipped.
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But the AFPM has opposed standards requiring refiners to blend or subsidise the blending of biofuels into the gasoline pool, saying it hurts independent refiners.
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But, critically, biofuels don't require that any new oil be fracked and drilled out of the Earth, adding new sources of CO2 to the air.
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The Advanced Research Projects Agency-Energy, a program that funds research into long-shot energy technologies, like algae biofuels or advanced batteries, would face elimination.
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Mike McAdams, president of the Advanced Biofuels Association, said the EPA proposal recognizes gains in the production of next-generation alternatives to corn-based ethanol.
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The American Council for Capital Formation, a business group that opposes the ethanol mandate, accused the EPA of trying to ignore the impacts of biofuels.
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"We need governments to set a framework to incentivize production of SAF and ensure it is as attractive to produce as automotive biofuels," he said.
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And in a crucial early primary contest in Iowa, where biofuels are a huge section of the economy, questions about them were hard to avoid.
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These fuels, called biofuels because they're commonly made from crops or plant waste, won't add any new carbon to Earth's already skyrocketing carbon-dioxide levels.
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They hit the low after a report that a U.S. biofuels trade group backed Icahn's plan, and that the deal was being sent to Trump.
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The policy requires refiners to blend certain amounts of ethanol and other biofuels into their fossil fuels, or to buy credits on an open market.
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Historically a Russia-focused oil trader, it shed its Russian assets, added global offices and expanded into coal, liquefied natural gas, biofuels, power and emissions.
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The Environmental Protection Agency (EPA) on Friday announced it will be increasing the amount of advanced biofuels refiners must sell in 2019 by 15 percent.
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For conventional biofuels made from crops like ethanol, the EPA will keep the requirement the same at the 15 billion gallon target set by Congress.
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The RFS policy is a big boon to farmers due to its help creating a market for biofuels, but compliance often steeply costs oil refiners.
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Despite weeks of meetings with biofuel advocates, oil industry officials and senators centered on biofuels policy, the EPA's October proposal was met with harsh criticism.
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The biofuels news, however, comes amid progress on the United States' trade war with China, a dispute that has been especially damaging to U.S. farmers.
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Swarup is most excited about Exxon's research over the past decade into algae biofuels as a way to power heavy-duty trucks or even airplanes.
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The renewable energy industry — which includes wind power, solar, biofuels made from corn or other organic substances — exists because of government mandates and taxpayer subsidies.
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Exxon pointed to other climate-related steps, including promises to cut emissions, research into fuel cells and biofuels and purchases of wind and solar energy.
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The U.S. Renewable Fuel Standard requires refiners to blend biofuels like ethanol into the fuel pool or buy compliance credits generated by those who do.
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Much of the industry has accepted this arrangement and invested in their facilities to allow them to blend biofuels, at least up to a point.
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David Fialkov, a lobbyist for NATSO, the national association representing the travel plaza and truckstop industry, said an agreement on that proposal was key for biofuels.
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Low oil prices also jeopardize the development of alternative fuels to replace petroleum in transportation and industry, including the advanced biofuels that once looked so promising.
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Gas demand will grow at approximately twice the rate of oil ... on the renewable side we will focus on our commitment to wind and Brazilian biofuels.
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As part of a renewable energy bill adopted on Tuesday, the EU said it would phase out biofuels containing feedstock that contribute to deforestation by 2030.
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Measures to cut emissions, such as the production of biofuels, biochar - made from biomass - as well as planting trees, will also increase demand for land conversion.
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She explained that It's also cast a shadow over the legitimacy of using biofuels as a renewable energy source, even if it diversifies our energy base.
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This is where, 10 years ago, before the biofuels market went bust, people could see their fortunes—fields of soy and corn—stretching to the horizon.
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The Renewable Fuel Standard (RFS) was signed into law by President George W. Bush in 2005 and sets annual requirements for used of biofuels including ethanol.
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The RFS requires refiners to blend biofuels, or purchase blending credits from other companies - a policy intended to help farmers, and cut pollution and fuel imports.
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Lucas Cibor, interim head of the EU mission to ASEAN, on Thursday said the EU had explained its policy on sustainable biofuels to Indonesia and Malaysia.
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Chuck Grassley, Republican of Iowa, who has threatened to call for Pruitt to be fired over the waivers, think they'll hurt the biofuels and ethanol industries.
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As a concession to the oil industry, he had also ordered the EPA to overhaul the biofuels credit market it oversees under the Renewable Fuel Standard.
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David Fialkov, a lobbyist for the National association representing the travel plaza and truckstop industry (NATKO), said an agreement on that proposal was key for biofuels.
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On Tuesday, the EPA said in a statement that there was "zero evidence" that the refinery waivers have hurt demand for ethanol, which biofuels producers dispute.
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Dinneen said that he was informed by Icahn that the RFA could negotiate some benefits for the biofuels industry in exchange for his the group's support.
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Refiners, including CVR, have long been seeking a way out of being responsible for blending biofuels into gasoline saying the requirement costs them millions of dollars.
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And waste oil is a drop in the ocean of the raw materials that would be required for biofuels to make a dent in CO2 emissions.
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The U.S. Renewable Fuel Standard requires refineries to blend biofuels into their gasoline and diesel each year, or purchase credits, called RINs, from those who do.
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But its development plans call for 24 percent of energy needs to be produced from wind, solar and biofuels by 2030 in partnership with foreign investors.
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A year-long naval exercise in 23 involved a strike group powered by a mixture of conventional fuels, nuclear power and biofuels made from beef fat.
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"This is madness," said Truls Gulowsen of Greenpeace, saying that European laws should do more to promote local production of biofuels, such as from Nordic forests.
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Biofuels advocates are worried about losing progress into the U.S. fuel stream since lawmakers established the RFS program in 2005 under then President George W. Bush.
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A NASA-designed ice melting system powered by solar energy and biofuels provided water to drink and cook with, while portable solar technology powered their electronics.
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The requirement for conventional biofuels remains at 15 billion gallons for 13, on par with 2018 and the same as proposed by the agency in June.
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The U.S. Renewable Fuel Standard requires oil refiners to blend biofuels like ethanol into their fuel each year or buy compliance credits from competitors that do.
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It also aims to have large-scale domestic production of cellulosic biofuels, which are made from sources such as grasses, trees and crop waste, by 2025.
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The RFS, which is administered by EPA, sets the amounts of biofuels, such as ethanol, that must be blended into U.S. gasoline and diesel supplies annually.
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It's important to note that biomass, and the products produced from it, such as biofuels, have an impact on the environment, and it's not always positive.
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At issue is Icahn's advocacy for changes to a federal biofuels program that would have benefited CVR Energy, in which Icahn holds an 82% ownership stake.
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Goldman's note came about a month after the EPA unveiled requirements for the amount of biofuels required to be blended with gasoline and diesel for 113.
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The second generation advanced biofuels (extracted from biomass) are not affected as acutely as they are protected by a more benevolent regulatory mechanism in North America.
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