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There has been little demand for new tons of ammonia thus far in the season with wet and cold weather pushing back opportunities for preplant While the big, shiny equipment often gets the most attention at the annual National Farm Machinery Show, the smaller products -- many of which Stocks in the U.
Italian flavors come together with grilled vegetables in this pasta salad that will remind you of an antipasto plate. Ted Cruz, R-Texas, had floated a proposal to the White House that would essentially cap prices for renewable identification number RIN credits at 10 cents apiece. The proposal from the Texas senator, negotiating on behalf of oil refiners, spurred major players in both biofuels and commodity crops industries to send a letter Friday to President Donald Trump detailing why the RIN market exists, how it is operated by EPA, and some of the problems EPA has in providing transparency on RIN trading.
Most importantly, the letter praised President Trump for his support of the biofuels industry and reiterated the need to ensure any policy changes don't undercut billions of dollars in biofuels infrastructure that has been put in place since the Renewable Fuel Standard was created.
We have been working on many of them for years, and we would welcome the opportunity to move these ideas forward," stated the letter, which was signed by a collection of 89 ethanol companies and trade groups, as well as farm organizations and agricultural companies. In comparison, the D6 RIN was trading at 71 cents Friday afternoon, after falling from an opening price of RINs are generated when a qualified renewable fuel is either produced or imported. RINs then are bought within the refinery industry by companies that are not producing or buying enough renewable fuels to meet their blend volumes under the Renewable Fuel Standard.
There are several nested categories for RINs depending upon the renewable -- such as corn ethanol or biodiesel -- which do have different values. D6 is considered the baseline RIN. In a proposal for the biofuels industry, Cruz proposes the EPA would sell cent, fixed-price waiver credits that would qualify as RINs and satisfy a petroleum blender's renewable volume obligations.
The proceeds from these cent waiver sales then would go specifically to help pay for renewable-fuel blending infrastructure, tied to an existing program such as the Biofuel Infrastructure Partnership or a similar fund. Long term, Cruz proposes a working group including Trump administration officials, members of Congress and industry stakeholders to come up with a long-term solution to the RINs.
Leaders in the ethanol industry criticized Cruz's proposal. It is working to revitalize the rural economy, as promised by the president, and no one is going to accept gimmicks designed to slow the growth of homegrown fuel," Skor said. RVP relief would immediately add another three months' worth of E15 sales to the market.
That's how RFS is meant to work. Brooke Coleman, executive director of the Advanced Biofuels Business Council, said Cruz and his backers don't seem to be taking the White House's position seriously when it comes to support for renewable fuels. Instead of refinery handouts, we should cut the red tape and let customers decide whether to buy E15 all year long. Other biofuel industry leaders, such as Adam Monroe, president of Novozymes Americas region, called for more ethanol blending to stabilize RIN prices.
That would put more RINs on the market to lower the prices, Monroe said. Cruz's proposal comes after Agriculture Secretary Sonny Perdue acknowledged earlier this week at an event in Washington, D.
It's very complex, but there's a win-win. The biofuels industry letter to President Trump can be found here: Ready for more DTN? Stocks Keep Climbing Early Thursday. Log in or Join our community. All other trademarks are the properties of their respective owners.
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