RFA, Biofuels Industry is Nervous about Turmoil in Energy Markets

The Renewable Fuels Association is calling on the government to help the liquid fuel industries, which includes ethanol producers, during this time of uncertainty. Senate Finance Committee Chair Chuck Grassley says biofuel industry leaders were “very nervous” when he met with them recently. The Hagstrom Report says Grassley doesn’t think there will be much agreement in Congress on helping “Big Oil,” but did note that if there was any government assistance given out, it should include ethanol. Renewable Fuels Association President Geoff Cooper says the biofuels industry employs 350,000 Americans throughout the Heartland and notes that they’re carefully watching the government’s response to turmoil in the energy markets. “Our industry is being adversely affected not only by the economic constraints caused by the coronavirus, but also by the oil price war, ongoing trade disputes, and EPA’s small refinery waivers,” Cooper says. “Ethanol futures prices hit a record low in recent days as the virus is expected to negatively impact domestic and international fuel demand in the near term.” The administration’s response to the turbulence has centered around crude oil producers, but Cooper says biofuels are suffering as well.

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