Lower U.S. Corn Crop Doesn’t Justify Ethanol Waiver, RFA Says
by (Bloomberg) …Refiners can meet biofuel targets by drawing from ample stockpiles and utilizing excess credits, known as Renewable Identification Numbers, that can be submitted in lieu of physically blending a gallon of ethanol to meet the government’s mandate under the Renewable Fuel Standard, the Washington-based trade association said in a statement today.
The U.S. Agriculture Department estimated today that the corn crop will drop 13 percent to a six-year low after the hottest July since 1936 scorched Midwest fields. That’s prompted livestock producers, members of Congress from both political parties in both chambers and the United Nations to call for a temporary suspension.
“Given the abundance of RFS credits, ample ethanol stocks, and various other flexibilities, obligated parties under the RFS will have every opportunity to demonstrate compliance this year,” the group wrote in an e-mailed statement. READ MORE and MORE (Renewable Fuels Association) and MORE (Renewable Fuels Association) and MORE and MORE (Bloomberg) and MORE (ABC News/AP) and MORE (Christian Science Monitor) and MORE (Reuters) and MORE (Reuters) and MORE (DomesticFuel.com) and MORE (Bloomberg) and MORE (Ethanol Producer Magazine) and MORE (DomesticFuel.com) and MORE (Radio Iowa) and MORE (The Hawk Eye)