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NEW YORK (Reuters) - The U.S. oil industry is seeking to forge an alliance with the nation’s corn growers and biofuel producers to lobby against the Biden administration’s push for electric vehicles, but is so far meeting a cool reception, according to multiple sources familiar with the discussions.
FILE PHOTO: FILE PHOTO: E85 ethanol fuel is shown being pumped into a vehicle at a gas station selling alternative fuels in the town of Nevada, Iowa, December 6, 2007. REUTERS/Jason Reed/File Photo/File Photo
The effort to promote liquid fuels and combat expected federal subsidies for electric vehicles marks an unusual attempt by the petroleum industry to join with its long-time rivals, reflecting the scale of its concern over President Joe Biden’s measures to combat climate change and tamp down fossil fuels.
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NEW YORK (Reuters) - The Trump administration is expected to grant waivers to some oil refiners that would exempt them from requirements to blend biofuels into their fuel mix for the 2019 compliance year, according to two sources familiar with the matter.
FILE PHOTO: Corn is loaded into a truck to be transported for ethanol production in Kelley, Iowa, U.S., January 21, 2020. REUTERS/Shannon Stapleton/File Photo
The move would be one of the last actions by President Donald Trump’s Environmental Protection Agency to seek to balance the competing desires of the biofuel and oil industries over biofuel blending laws. The decision, however, would be a blow to the biofuel industry and corn producers that say the exemptions hurt demand for their products, though the oil industry rejects that claim.
In Peru, the Peruvian National Institute for the Defense of Free Competition and the Protection of Intellectual Property (INDECOPI) Tribunal announced on Jan. 29, 2021 that the U.S. ethanol industry and the U.S. government won an appeal on a countervailing duty case brought against U.S. ethanol in Peru, reversing a previous decision handed down by Peruvian authorities that applied a 15-cent per gallon duty on U.S. ethanol and resulted in loss of market access in the country.
The U.S. Grains Council (USGC), Growth Energy and the Renewable Fuels Association (RFA) participated extensively in this case, arguing at hearings in both the initial investigation and the appeal in Peru on behalf of the U.S. ethanol industry.
General Motors says that it will stop making gasoline and diesel powered vehicles by 2035. The Renewable Fuels Associations discusses how this will impact the industry.
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