In 2005 Congress passed the Energy Policy Act (EPA) which created the Renewable Fuel Standard (RFS) statutory schedule. The 2005 EPA was amended it in 2007 with the Energy Independence and Security Act (EISA) which expanded those categories. The bottom line is that renewable fuels were scheduled to increase from 4 billion gallons in 2006 to 36 billion gallons this year. While conventional ethanol and biomass based diesel have fulfilled those volumes, the category of advanced biofuels has not, resulting in the statutory volumes being missed since 2014.
Under the statute, EPA had the authority to “reset” the RFS. That authority allows the EPA Administrator to adjust the applicable volumes of the RFS for future years start...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
