EPA increases renewable fuels standard, giving boost to Nebraska, Iowa ethanol industries

[Omaha Steve]

Source: Omaha World Herald

By Russell Hubbard

The Nebraska and Iowa corn ethanol industries — the nation’s largest — received a small boost Monday after the U.S. Environmental Protection Agency raised the amount of renewables that must be part of the nation’s motor-fuel supply.

The EPA’s final rule for 2016 requires 18.1 billion gallons of renewable fuels to be used to power motor vehicles; the agency has no separate requirement for corn-based ethanol. But in practice, blending corn-based ethanol with clear gas has accounted for more than 80 percent of the total EPA biofuel requirement in recent years.

"It is an overall positive for the industry," said Todd Becker, chief executive of Omaha-based Green Plains Inc., the nation’s fourth-largest ethanol producer.

Becker said the implication of the ruling is that EPA expects 14.5 billion gallons of corn-based ethanol to be blended next year, up from 14 billion gallons this year, but still below the 15 billion gallons implied in the 2007 renewable fuels law passed by Congress.

FULL story at link.

Read more: http://www.omaha.com/money/epa-increases-renewable-fuels-standard-giving-boost-to-nebraska-iowa/article_c3d24d60-97a6-11e5-9bcd-0be0caa7392b.html

[Hoppy]

1. Good for Conagra. Bad for your car and gas milage.