The 10th Circuit Federal Court of Appeals in Denver has ruled that EPA went beyond its authority in granting three different small refinery exemptions (SREs) in 2016 and 2017 in a decision on a case brought by a number of producer and biofuels groups. This case was filed in 2018. Those three SREs were granted to two plants owned by HollyFrontier, for which the Department of Energy (DOE) had recommended a 50 percent exemption, and a refinery owned by CVR, which DOE had recommended be denied. Combined,n those plants had about a 57-million-barrel throughput capacity at the time of the SRE petition and the DOE recommendations would have exempted about 15.8 million barrels. Today, the plants have a combined capacity that is a...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.