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In victory for oil industry, EPA proposes lower renewable fuel quotas

Nov. 15, 2013 3:09 PM ETAlto Ingredients, Inc. (ALTO) StockVLO, ALTO, ADM, ANDV, CORN, DINO, PSXBy: Carl Surran, SA News Editor78 Comments
  • The EPA is proposing a range of 15B-15.52B gallons of renewable fuel in 2014, nearly 3B fewer gallons of biofuel to be blended into gasoline than mandated by the original 2007 law.
  • The new proposal angers farm groups, corn ethanol producers and supporters of biodiesel, but it's a victory for oil companies, which have long argued that if the content of ethanol in motor fuel exceeded 10% - i.e., the "blend wall" - it might damage cars, motorcycles and lawn mowers.
  • The administration also is setting a 2B-2.5B gallon target range for all advanced biofuels (earlier).
  • Among the biggest movers: PEIX +13%, ADM -2.9%.
  • Refiners: VLO +0.8%, HFC -0.4%, PSX -0.5%, TSO -0.3%.
  • ETF: CORN -1.2%.

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