Date: Feb 21, 2011
House continuing resolution contains several measures detrimental to ethanol
The continuing budget resolution that the House passed last week, which would keep the government running after March 4, contained measures that would block the EPA from implementing E15 and would also block the USDA and EPA from helping to install blender pumps. The House bill would also cancel the DOE loan guarantee program that facilitates financing for renewable energy projects including cellulosic ethanol plants. If the loan guarantee program were to be shut down as outlined in the House continuing resolution, Senator Dianne Feinstein (D-CA) says that $15.5 billion of loans in progress to back renewable energy projects would be canceled. The passage by the House of its continuing resolution bill was mainly a symbolic vote by the incoming Republican majority and the Democratic Senate and President Obama are unlikely to agree to the ethanol curbs. Nevertheless, the House vote made it clear that ethanol is in the cross hairs of many Republicans.
Source: CME Group Ethanol Outlook Report
Link: http://www.insidefutures.com/article/224994/CME%20Group%20Ethanol%20Outlook%20Report%20-%20February%2021,%202011.html
No comments:
Post a Comment