Fuel Beyond: 14th Annual Executive Leadership Conference Kicks Off in California |
Growth Energy's 14th Annual Executive Leadership Conference is currently underway at the Waldorf Astoria Monarch Beach Resort & Club in Dana Point, Calif. The event kicked off yesterday with the comprehensive Tech Forum, Growth Energy's annual Golf Tournament, and a welcome reception before continuing today with the opening General Session (which starts in just a few hours). Follow along with the action on Growth Energy's social media channels using the hashtag #ELC2023. Are you with us on-site in Dana Point? Be sure to use the hashtag when you share photos from the event and don't forget to tag us to say hello!
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Last week, domestic ethanol demand was 13.4 BGY, up 0.4% compared to a week ago. The EIA-reported gas demand was up 0.4% from last week, at 131.7 BGY. The 4-week average ethanol and gas demand are 13.7 and 134.8 BGY.
Ethanol production was 15.5 BGY last week, up 0.4% versus the week before, and 0.4% less than the 4-week average in 2019. Midwest production was up 0.2% (+0.6 MG) versus a week ago, and average production in the other regions was up 4.3% (+0.6 MG). Capacity utilization of plants online was 89.6% overall, 91.2% in the Midwest, and 66.0% on average, elsewhere, excluding 1,355 MGY of capacity shutdown at 27 ethanol plants for other than maintenance. On an installed capacity basis, utilization was 84.2% overall, 89.1% in the Midwest and 39.9% in the other regions.
Exports were an estimated 29.4 MG last week based on 130 MG of exports forecast for March. The EIA reported no ethanol imports last week.
Overall inventory was up 7.5 MG last week. EIA-counted stocks increased 45.1 MG, and regional changes were: East (+14 MG), Gulf (+23 MG) and West (+4 MG) Coasts and the Midwest (+3 MG). In-transit inventory decreased 37.6 MG.
Based on the total inventory of 1,957 MG on March 10th and the 4-week avg. domestic demand, there were 51.9 days of supply, down 0.4 days versus a week ago. Including the 4-week avg. of net exports, there were 46.9 days of supply, down 0.4 days versus a week ago. | |
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Act Now: Demand an E15 Emergency Waiver for This Summer Consumer and Fuel Retailer Choice Act Reintroduced in 118th Congress |
Washington State Approves SAF Tax Credit Growth Energy Submits Comments to California Air Resources Board on LCFS Proposal |
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Act Now: Demand an E15 Emergency Waiver for This Summer |
Growth Energy and the biofuels industry needs your help!
Amidst inflation and soaring gas prices, higher blends of biofuels like E15 have saved American drivers up to nearly $1 per gallon at the pump – all while reducing emissions and supporting economic growth across rural America. In fact, the popularity of higher bioethanol blends is rising faster than ever, and American drivers have now logged 40 billion miles on the road using E15.
Unfortunately, these cost savings could vanish from many markets on June 1, 2023, due to outdated federal restrictions on summer sales of higher ethanol blends.
Last year, the Biden administration waived E15 restrictions on an emergency basis for the summer to deliver relief at the pump, and this year should be no different. As Russia’s war in Ukraine continues to drive price volatility at the pump, the administration should act swiftly to ensure uninterrupted access to lower-cost, lower-carbon E15. Join us in calling on lawmakers to press the Biden administration for action on an emergency RVP waiver ahead of the start of summer driving season. |
Consumer and Fuel Retailer Choice Act Reintroduced in 118th Congress |
A bipartisan group of lawmakers in both chambers of Congress reintroduced legislation this week that would make year-round E15 sales a reality. Senators Deb Fischer (R-Neb.) and Amy Klobuchar (D-Minn.) joined Representatives Adrian Smith (R-Neb.) and Angie Craig (D-Minn.) to officially introduce the Consumer and Fuel Retailer Choice Act for the 118th Congress, hoping to make the simple fix to an outdated regulation that stands in the way of selling fuels with higher blends of ethanol. Learn more about the legislation and see Growth Energy's statement here. While the bill's introduction is welcome news for the biofuels industry, an emergency waiver that allows for E15 to be sold this coming summer is the more urgent need. Click here to let your member of Congress know that the White House should issue such a waiver as soon as it can to assuage industry concerns and give drivers access to lower-cost, lower-carbon fuels like E15 for the 2023 driving season.
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For more information, please contact Vice President of Government Affairs John Fuher. |
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Washington State Approves SAF Tax Credit |
The Washington State Senate approved a sustainable aviation fuel (SAF) tax credit by near-unanimous consent this week. The proposal then moved to the state's lower chamber for consideration by the Committee on Environment and Energy. Though the bill is near final, there's a small window for changes and Growth Energy is working to modify the legislation so that it would use the more-accurate GREET model to measure carbon intensity (CI) before it becomes law. We will continue to keep you posted. Read Growth Energy's letter here.
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Growth Energy Submits Comments to California Air Resources Board on LCFS Proposal |
In response to a California Air Resources Board (CARB) workshop on the state's Low Carbon Fuel Standard (LCFS) last month, Growth Energy submitted comments this week once again urging the board to make greater use of bioethanol in its fuel mix to reach its climate goals. "Growth Energy has previously submitted extensive comments demonstrating the vital role low-carbon biofuels and higher biofuel blends can play in meeting California’s ambitious climate goals," said Growth Energy in its comments. "As we have noted previously and reiterate here, biofuels have been among the largest contributors to the success of the LCFS program to date and are poised to continue to do so with appropriate updates to the program." Read the full comment here.
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For more information, please contact Senior Vice President of Regulatory Affairs Chris Bliley. |
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The Weekly Rundown is the weekly newsletter for Growth Energy's members. It is published weekly by the communications staff at Growth Energy. For more information, email team@growthenergy.org or visit our website GrowthEnergy.org.
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