In a blatant move to win support and placate the biofuels and refinery interests, Trump has suggested he'd provide $300 million to oil refiners and that those funds would come out of the USDA Commodity Credit Corp. (CCC) which is intended to provide farmers with Market Facilitation Program (MFP) payments.
Commenting on Trump's possible cash payments to refiners scheme, former Agriculture Secretary Tom Vilsack said he "strongly expects that no action will be taken on the remaining waivers until after the election." Vilsack was critical of the reports that the President indicated that he would offer $300 million through the CCC fund in lieu of the waiver approvals, as the CCC is designed specifically to be used by USDA for the purpose of helping farmers.
As previously noted, "hardship waivers" were intended for refineries producing 75,000 bpd or less and suffered "disproportionate economic hardship" from the costs of RFS compliance. The waiver frees the refineries from an obligation to provide the EPA with biofuels credits proving compliance. (Source: EPA, Feedstuffs, 17 Sept., 2020)
More Low-Carbon Energy News Trump, RFS, Refinery Waivers, Biofuel Blend, Tom Vilsack ,
"It provides a stable market for crops, an affordable supply of feed supplements for livestock producers, it supports exports, provides jobs -- as many as 400,000 Americans at one time -- and gives consumers a less-expensive fuel option that is cleaner burning than fossil fuels." -- Tom Vilsack, former Iowa governor and U.S. agriculture secretary, commenting on the impacts of the coronavirus pandemic on the biofuels industry and the Trump administration's understanding of the benefits of the ethanol industry.
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According to the POET release, in its more than 30-year history, POET has continually found ways to make biofuel production more efficient at its network of 27 bioprocessing facilities and to develop new co-products and new sources for biofuel. POET, through its joint venture with Dutch biotechnology company DSM, also operates a commercial-scale cellulosic ethanol plant, Project LIBERTY, in Emmetsburg, Iowa.
The Global Bioeconomy Leadership Award was established by Biofuels Digest and Nuu Media to recognize individuals who offer a bold vision and have made a global impact in the biotechnology space. (Source: POET, Vital, 4 April, 2019) Contact: POET, Jeff Broin, Pres., (605) 965-2200, www.poet.com
More Low-Carbon Energy News POET, Biofuel, Ethanol,