Results tagged financial+times

Ethanol industry’s record profits

The ethanol lobby is fighting hard for to defeat EPA’s proposal and maintain the status quo. The industry threatened to sue the EPA if they scaled back the RFS — a power that is well within their right, rarely used and the foundation of the much-touted “flexibility” of the policy.

Financial Times: US ethanol credits soar to fresh high

US federal law requires refiners and wholesalers to blend increasing amounts of biofuels each year into the petrol they sell. They can also buy RIN credits in lieu of meeting blending obligations. The credits are generated when biofuels are produced and later sold on secondary markets.

Financial Times: US ethanol credits surge 1,400% this year

The RFS, updated in 2007, requires blending 13.8bn gallons of corn-derived ethanol with petrol this year. But most forecourts sell petrol blends containing only 10 percent ethanol, and the US petrol consumption is projected to be 13.4billion gallons of ethanol -- less than the mandate.