World Grain - July 2011 - 48

BIOFUELS QUARTERLY

Biofuels News Review
U.S. ethanol industry leaders say VEETC vote ‘inconsequential’
WASHINGTON, D.C., U.S. — While disappointed in a vote by the U.S. Senate on June 15 to end the Volumetric Ethanol Excise Tax Credit (VEETC), U.S. ethanol leaders said the decision was “inconsequential.” The amendment is attached to a bill which is unlikely to make to the president’s desk, said the Renewable Fuels Association (RFA). It said the vote was a “freebie with no real consequences.” “With this theater now in the past, the ethanol industry stands ready to work with the Senate, House and the Obama Administration to enact thoughtful policies that responsibly address fiscal concerns while moving American ethanol production forward. America needs an energy agenda that embraces the energy technologies of the future, not the energy politics of the past,” RFA said. “Our industry is ready to work in good faith to pass legislation like that proposed by Senators Thune and Klobuchar that achieves immediate budget savings, pays down the federal debt by $1 billion, and continues the expansion and evolution of America’s ethanol industry.” Brian Jennings, executive vice-president of the American Coalition for Ethanol (ACE), said if the amendment were to be enacted it would raise gas prices and fuel taxes on American consumers, jeopardize U.S. jobs, put advanced biofuels in danger and limit consumer fuel choice. “Ironically, nearly one month ago the U.S. Senate voted to protect the nearly $4 billion Big Oil receives in tax subsidies,” Jennings said. “We are disappointed senators are willing to reward Big Oil for shamelessly hoarding subsidies, but are willing to penalize the biofuels industry, especially when we’ve voluntarily offered to sacrifice part of the existing tax credit for deficit reduction.” Jennings says the amendment does nothing to distract the biofuels industry from charging forward with reform of ethanol tax incentives in Congress. “The biofuels industry has already proposed to end the blenders’ credit (or VEETC) by July 1, sacrificing it for deficit reduction, nextgeneration biofuels and consumer fuel choice. We will continue to work in a proactive and responsible way to achieve this reform through S. 1185, the Ethanol Reform and Deficit Reduction Act sponsored by Sens. Thune, Klobuchar and others. We are confident this reform effort will move forward in Congress and be part of legislation that actually stands a chance of making it to the president’s desk,” Jennings said. Schott pointed out that one comprehensive report found that subsidies for the oil industry total up to $280 billion annually, representing up to $2 per gallon of gasoline. A recent legislative effort to eliminate $2 billion of these oil subsidies went nowhere in Congress, he noted, after organizations like the National Taxpayers Union painted it as a tax increase. The ethanol industry supports more than 400,000 U.S. jobs, contributing more than $56 billion each year to the nation’s economy and $11 billion in federal, state and local tax revenue, Schott said.

U.S. EPA proposes 2012 Renewable Fuel Standards
WASHINGTON, D.C., U.S. — The U.S. Environmental Protection Agency (EPA) on June 21 proposed the 2012 percentage standards for four fuel categories that are part of the agency’s Renewable Fuel Standard program (RFS2). The Energy Independence and Security Act of 2007 (EISA) established the annual renewable fuel volume targets, which steadily increase to an overall level of 36 billion gallons in 2022. To achieve these volumes, EPA calculates a percentage-based standard for the following year. Based on the standard, each refiner, importer, and non-oxygenate blender of gasoline or diesel determines the minimum volume of renewable fuel that it must ensure is used in its transportation fuel. The proposed 2012 overall volumes and standards are: biomassbased diesel (1 billion gallons; 0.91%); advanced biofuels (2 billion gallons; 1.21%); cellulosic biofuels (3.45-12.9 million gallons; 0.002%– 0.010%); and total renewable fuels (15.2 billion gallons; 9.21%). Based on analysis of market availability, EPA is proposing a 2012 cellulosic volume that is lower than the EISA target for 2012 of 500 million gallons. EPA said it will continue to evaluate the market as it works to finalize the cellulosic standard in the coming months. The agency remains optimistic that the commercial availability of cellulosic biofuel will continue to grow in the years ahead. Overall, EPA’s RFS2 program encourages greater use of renewable fuels, including advanced biofuels. For 2012, the program is proposing to implement EISA’s requirement to blend more than 1.25 billion gallons of renewable fuels over the amount mandated for 2011.

Noble Argentina to build biodiesel plant
TIMBUES, ARGENTINA — Agricultural commodity trader Noble Argentina, a subsidiary of Hong Kong, China-based Noble Group, announced on June 22 that it will invest $50 million to build a biodiesel and a power cogeneration plant in the province of Santa Fe, Argentina. The investment was announced by Noble Argentina’s president,
48

Alfonso Romero, during a meeting with Argentina’s president, Cristina Fernandez. The new plants will be built in the company’s complex in the Timbues area, which includes a soybean crushing plant able to process 10,000 tonnes per day, as well as a grain storage plant and a port.
July 2011 / World Grain / www.World-Grain.com


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World Grain - July 2011

Table of Contents for the Digital Edition of World Grain - July 2011

World Grain - July 2011
from the editor-in-chief - Industry must move to avoid public opprobrium
CALENDAR OF EVENTS
News review
GRAIN MARKET REVIEW - Oilseeds
COUNTRY FOCUS - Focus on Israel
Combating volatility
FEATURE - Keeping a close eye on corn
BIOFUELS QUARTERLY - Ready for an ENERGY REVOLUTION
BIOFUELS QUARTERLY - Biofuels News Review
GRAIN OPERATIONS - Aeration strategies
FEATURE - BUSY FALL FOR IAOM
FEATURE - North American supplier profiles
SUPPLIER NEWS
PRODUCT SHOWCASE
ADVERTISER INDEX
World Grain - July 2011 - World Grain - July 2011
World Grain - July 2011 - 2
World Grain - July 2011 - 3
World Grain - July 2011 - 4
World Grain - July 2011 - 5
World Grain - July 2011 - from the editor-in-chief - Industry must move to avoid public opprobrium
World Grain - July 2011 - 7
World Grain - July 2011 - CALENDAR OF EVENTS
World Grain - July 2011 - 9
World Grain - July 2011 - News review
World Grain - July 2011 - 11
World Grain - July 2011 - 12
World Grain - July 2011 - 13
World Grain - July 2011 - 14
World Grain - July 2011 - 15
World Grain - July 2011 - 16
World Grain - July 2011 - 17
World Grain - July 2011 - 18
World Grain - July 2011 - 19
World Grain - July 2011 - GRAIN MARKET REVIEW - Oilseeds
World Grain - July 2011 - 21
World Grain - July 2011 - COUNTRY FOCUS - Focus on Israel
World Grain - July 2011 - 23
World Grain - July 2011 - 24
World Grain - July 2011 - 25
World Grain - July 2011 - 26
World Grain - July 2011 - 27
World Grain - July 2011 - Combating volatility
World Grain - July 2011 - 29
World Grain - July 2011 - 30
World Grain - July 2011 - 31
World Grain - July 2011 - 32
World Grain - July 2011 - 33
World Grain - July 2011 - FEATURE - Keeping a close eye on corn
World Grain - July 2011 - 35
World Grain - July 2011 - 36
World Grain - July 2011 - 37
World Grain - July 2011 - 38
World Grain - July 2011 - 39
World Grain - July 2011 - BIOFUELS QUARTERLY - Ready for an ENERGY REVOLUTION
World Grain - July 2011 - 41
World Grain - July 2011 - 42
World Grain - July 2011 - 43
World Grain - July 2011 - 44
World Grain - July 2011 - 45
World Grain - July 2011 - 46
World Grain - July 2011 - 47
World Grain - July 2011 - BIOFUELS QUARTERLY - Biofuels News Review
World Grain - July 2011 - 49
World Grain - July 2011 - 50
World Grain - July 2011 - 51
World Grain - July 2011 - GRAIN OPERATIONS - Aeration strategies
World Grain - July 2011 - 53
World Grain - July 2011 - 54
World Grain - July 2011 - 55
World Grain - July 2011 - 56
World Grain - July 2011 - 57
World Grain - July 2011 - FEATURE - BUSY FALL FOR IAOM
World Grain - July 2011 - 59
World Grain - July 2011 - FEATURE - North American supplier profiles
World Grain - July 2011 - 61
World Grain - July 2011 - 62
World Grain - July 2011 - 63
World Grain - July 2011 - 64
World Grain - July 2011 - 65
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World Grain - July 2011 - 78
World Grain - July 2011 - 79
World Grain - July 2011 - 80
World Grain - July 2011 - 81
World Grain - July 2011 - SUPPLIER NEWS
World Grain - July 2011 - 83
World Grain - July 2011 - 84
World Grain - July 2011 - 85
World Grain - July 2011 - 86
World Grain - July 2011 - 87
World Grain - July 2011 - PRODUCT SHOWCASE
World Grain - July 2011 - 89
World Grain - July 2011 - ADVERTISER INDEX
World Grain - July 2011 - 91
World Grain - July 2011 - 92
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http://digital.world-grain.com/sosland/wg/2005_03_01
http://digital.world-grain.com/sosland/wg/2005_02_01
http://digital.world-grain.com/sosland/wg/2005_01_01
http://digital.world-grain.com/sosland/wg/2004_12_01
http://digital.world-grain.com/sosland/wg/2004_11_01
http://digital.world-grain.com/sosland/wg/2004_10_02
http://digital.world-grain.com/sosland/wg/2004_10_02
http://digital.world-grain.com/sosland/wg/2004_10_01
http://digital.world-grain.com/sosland/wg/2004_09_01
http://digital.world-grain.com/sosland/wg/2004_08_01
https://www.nxtbookmedia.com