U.S. oil refiners may draw from a reserve of 2.5 billion Renewable Identification Numbers that they’ve banked in previous years to meet federal requirements for the amount of ethanol they blend into gasoline this year.
Aluminum alloy stockpiles tracked by the London Metal Exchange rose to the highest level in more than nine years, while inventories of primary aluminum extended their drop to the longest in almost seven years.
Lying in a Beijing military hospital in 1990, General Wang Zhen told a visitor he felt betrayed. Decades after he risked his life fighting for an egalitarian utopia, the ideals he held as one of Communist China’s founding fathers were being undermined by the capitalist ways of his children -- business leaders in finance, aviation and computers.
The soaring cost of ethanol credits may erode full-year profits for U.S. crude-oil refiners by more than 15 percent, said Faisel Khan, Citigroup Inc.’s managing director of integrated oil and research.