Navigant Research said in a report that marine and aviation industries have been expanding their use of biofuels in recent years and projected that biofuels will make up 6.1 percent of the aviation fuel market by 2024, FuelFix reports.
NEW YORK (AP) — The price of corn fell to its lowest in almost four years on Monday as favorable weather conditions for the crop persist in the Midwest.
Corn for delivery in September fell 9 cents, or 2.2 percent, to $4.06 a bushel, its lowest price since August 2010. As recently as April 29, corn was trading at $5.22.
The price of corn has slumped in the last two months as the right combination of sun, rain and moderate summer temperatures has boosted the chances of a record crop this year. U.S. corn is currently entering its pollination stage, a critical point of its development.
Environmental Protection Agency Administrator Gina McCarthy on Wednesday said there is still no target date to issue final Renewable Fuel Standard biofuels requirements for 2014.
"I'm hoping to get that out soon," she said when asked about the status of the 2014 RFS proposal. "I know that people are concerned about it. I also know that there was a ton of comment on our proposal and we need to get this right," McCarthy added.
The EPA's decision to extend its deadline for refiners to meet 2013 Renewable Fuel Standard requirements will delay the agency's rule for 2014 levels until late summer, a development that could help Rep. Bruce Braley, D-Iowa, in his bid for the Senate, E&E reports.
The Obama administration's proposal for biodiesel fuel use in 2014 will be "disastrous" for the industry if it goes into effect, the Senate's second-ranking Democrat said Wednesday, calling on regulators to reverse course in the name of jobs.
Sen. Dick Durbin of Illinois, the chamber's majority whip, joined other senators to renew pressure on the White House and the Environmental Protection Agency to raise biofuels mandates under the Renewable Fuel Standard when it finalizes 2014 levels next month.
The Environmental Protection Agency on Tuesday rolled back its mandated use of non-corn cellulosic biofuel in gasoline to under 1 million gallons, a fraction of the levels it previously finalized for 2013 under the Renewable Fuel Standard.
Last August, the EPA set the amount at 6 million gallons before agreeing to reconsider the target at the behest of the American Petroleum Institute and the American Fuel and Petrochemicals Manufacturers. Administrator Gina McCarthy revised the requirement to 810,185 ethanol-equivalent gallons in light of lower-than-expected production last year.
The availability of 85 percent ethanol for use in cars that can take the biofuel blend has grown rapidly over the past six years, notably outside the industry's traditional base in the Midwest, the Energy Information Administration reported Friday.
EIA said about 2 percent of all gas stations sold the blend, known as E85, by the end of last year. That's more than double the number of retail outlets since the first state data was gathered in 2007, although growth has slowed in the past two years.
The fuel can be used in about 5 percent of U.S. vehicles.
The five-year farm bill signed by President Obama today won the praise of the Biotechnology Industry Organization, which said the bill benefits the industry by defining renewable biochemicals, Domestic Fuel reports.
The Environmental Protection Agency hasn’t won a major legal victory backing its regulatory authority under the Clean Water Act since 1985, significant given the challenges its Waters of the U.S., or WOTUS, rule is likely to face, E&E reports.
Oil prices increased for a third straight day on the back of an upward revision in the U.S. gross domestic product figures and a hike in gasoline demand. West Texas Intermediate crude for October delivery gained 71 cents Thursday to $94.59 a barrel on the Nymex, while in London Brent crude was up 17 cents to $102.89, Bloomberg reports.
Increasing U.S. oil production fuelled by the shale boom has helped to keep a lid on oil prices despite global crises that in past years would have triggered supply disruptions and price spikes, according to an Energy Information Administration analysis, National Journal reports.
Renewable energy will account for a quarter of the world’s power generation by 2020, the International Energy Agency predicted in a report released Thursday, which added that $1.6 trillion will be invested in the sector up to that point, according to The Hill.
Environmental groups including the Southeast Alaska Conservation Council have filed at least three lawsuits against the U.S. Forest Service, looking to stop the sale of timber from the Tongass National Forest in Alaska, the Los Angeles Times reports.
The California legislature has been approving measures to encourage hybrid and electric cars, looking to back the California Air Resources Board’s goal of getting 1.5 million zero emission vehicles on the road over the next decade, the Los Angeles Times reports.
Improved road conditions and traffic reports could save 420 million barrels of oil – or 70 million metric tons of carbon – over ten years – one of a number of savings that could be made through better connected vehicles, according to the Intelligent Transportation Society of America, The Hill reports.
An executive at the massive state-owned conglomerate China Resources Power Holdings Co. -– Wang Jujun -– is being investigated as part of a major corruption probe, and has been suspended from his duties as company president, The Wall Street Journal reports.