- Ethanol producers vow to fight back against the EPA's proposal to lower the annual requirement for the biofuel used in gasoline.
- Archer Daniels Midland (ADM) complained it had invested in renewable fuel projects "on the basis of firm legislative commitments" and across two presidential administrations.
- Green Plains (GPRE) CEO Todd Becker calls the prospect of the U.S. turning away from a cheap and domestically produced fuel source "disgraceful."
- Although "disappointed," Renewable Energy (REGI) CEO Daniel Oh says the company's scale would "allow us to continue to succeed."
- "While we still think a large U.S. corn crop in 2013 will benefit other ADM businesses, we see the renewable fuel proposal as adding risk to the shares," says S&P Capital IQ's Tom Graves, who downgraded ADM shares to Sell from Hold after the announcement.
- Also: PEIX, GEVO, BIOF, SZYM, SYNM, AMRS, KIOR.
- ETF: CORN.
Biofuels defenders blast EPA plan to cut ethanol mandate
Nov 16 2013, 08:25 ET