The Renewable Fuels Association, the largest U.S. ethanol trade group, said it expects livestock and poultry industry supporters to ask the Obama administration to suspend the nation’s ethanol requirement as early as today.
The Environmental Protection Agency, which is preparing to set mandates for 2013 ethanol use, shouldn’t consider opposition to gasoline blends with more than 10 percent of ethanol when establishing the targets, the Renewable Fuels Association said.
Todd Becker couldn’t stop checking prices on his iPhone as he prepared to speak at a Nov. 21 investor conference in Manhattan. Ethanol was rising, and corn was falling, he says, driving potential profits on the gasoline additive to one of their highest levels in six years.
U.S. Senator Charles Grassley , an Iowa Republican, plans to introduce legislation that would tie an ethanol tax break to the price of oil, said Matt Hartwig , a spokesman for the Renewable Fuels Association in Washington.