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Thu, Oct. 2, 6:37 PM
- Ethanol futures plunged 28% in September as falling domestic demand left U.S. producers with the largest inventories since March 2013, sending stock prices for some ethanol makers reeling recently following big gains earlier in the year; shares of Green Plains (NASDAQ:GPRE), one of the biggest U.S. producers, slid 16% in September, while Pacific Ethanol (NASDAQ:PEIX) plunged 40%.
- Ethanol prices have fallen for much of this year because the price of corn plummeted due to a record crop last year and expectations for an even larger one this year; industry margins fell to ~$0.22/gal. in late September, down from an all-time high of $2.04/gal. in April, but "ethanol margins have largely bottomed out for the short term and will likely rebound in the next three to six months due to exports," says Citi analyst Aakash Doshi.
- Producers are cutting output, with U.S. ethanol production falling to a six-month low of 881K bbl/day in the week ended Sept. 26 EIA says; transportation snags this winter also could send prices climbing again.
- ETFs: CORN, PBW, UGA, QCLN, PUW, FUE, HECO
Nov. 12, 2013, 7:15 PM
- The secret, dirty cost of the U.S. ethanol push: The ethanol era has proven far more damaging to the environment than promised and much worse than the government admits today, according to an AP analysis. (also)
- As farmers rushed to find new places to plant corn, they wiped out millions of acres of conservation land, destroyed habitat and polluted water supplies, the report says; 5M acres of land set aside for conservation have vanished on Obama's watch.
- Government mandates to increase ethanol production have helped drive up corn prices, leading to marginal land being farmed to produce the crop; in 2012, 44% of the U.S. corn crop was used for fuel, about twice the rate in 2006.
- Relevant stocks: VLO, ADM, PEIX, BIOF, GPRE, REGI
- ETFs: FUE, IEO, IEX, IYE, PXE, PXI, XES, XLE, XOP, VDE, RYE, FXN, OIH, PXJ, PSCE, ERX, DIG, ERY, DUG, DDG
Oct. 11, 2013, 6:50 PM
- The EPA seeks to calm a furor over its apparent proposal to reduce ethanol use in gasoline next year (I, II), saying no final decisions have been made and the Obama administration remains committed to developing biofuels as a part of the plan to reduce U.S. dependence on imported oil.
- Growth Energy, a pro-ethanol group, calls for an investigation of the leak of what it says are unverified draft documents that were still under review.
- Ethanol groups fear any wavering on the use of ethanol could undermine their future, while oil refiners say the law is forcing them to spend billions of dollars to buy ethanol credits and driving up gasoline prices.
- Top ethanol/biofuels stocks: GPRE, REGI, PEIX.
- ETFs: FUE, IEO, IEZ, IYE, PXE, PXI, XES, XLE, XOP, VDE, RYE, FXN, OIH, PXJ, PSCE, ERX, DIG, ERY, DUG, DDG.
Oct. 10, 2013, 2:57 PM
- Renewable energy firms tumble and oil refiners rise on reports that the EPA is considering scaling back legal requirements on the use of ethanol next year amid complaints from refiners that statutory mandates would exceed their ability to blend it into fuels without putting engines at risk.
- One proposal the agency is considering would mandate 15.22B gallons of renewable fuels in 2014 instead of the 18.15B established by a 2007 law, Bloomberg reports; the agency may call for the use of 13B gallons of conventional corn-based ethanol and 1.28B gallons of biodiesel.
- Oil industry proponents say escalating requirements of ethanol to be added would force them to sell fuel blends exceeding 10% or export gasoline, i.e. "hitting the blend wall."
- Ethanol/biofuels stocks slide: PEIX -5.8%, REGI -3.1%, GPRE -3.5%.
- Earlier: refiners rise.
- ETF: FUE.
Dec. 21, 2012, 11:59 AMBrazil’s government go-ahead for Petrobras (PBR -3.6%) to raise its gasoline prices in early 2013 likely will raise demand for domestically produced sugar-based ethanol, but effects also could reach U.S. shores. Ethanol output in the U.S. is expected fall ~10% next year, and a robust export market could give Brazilian mills even more incentive to produce ethanol instead of sugar. | 4 Comments
Apr. 17, 2012, 9:59 AM
Mar. 22, 2012, 1:15 PM
Feb. 2, 2012, 11:22 AMThe EU faces criticism from two environmental groups over its costly biofuel policies aimed at improving at greenhouse gas emissions. Studies released by the organizations say the net effect on the environment is very little change because forests are chopped down to make way for biofuel plantations used for alternative transportation fuels. | 4 Comments
Jan. 3, 2012, 12:37 PMChris Woodyard suggests last weekend's expiration of a 30-year federal subsidy for ethanol could impact pump prices to the tune of 4.5 cents this week as most gasoline contains 10% ethanol; without the $0.45/gallon subsidy, 4.5 cents have to be eaten somewhere. Unmeasured, however, is the impact of eliminating the $0.54/gallon tariff on ethanol imports. | 1 Comment
Nov. 9, 2011, 11:12 AMThough airliners have started to use biofuels on select flights (I, II), execs say production isn't quite at scale to make the greener fuel alternative price competitive. For now the flights are more symbolic than cost-savers notes Alaska Airlines' (ALK -1.1%) Megan Lawrence: "We believe it is important to highlight our interest to show the biofuel industry there is demand." | 5 Comments
Nov. 7, 2011, 2:21 PMAlaska Airlines (ALK +1.1%) joins UAL (previous) in flying commercial service in the U.S. utilizing biofuels with maiden voyages from Seattle to Washington D.C. and Portland. The companys says it will ramp up the number of flights over the next few weeks that use the 20% blend of sustainable biofuel made from used cooking oil. | 1 Comment
Nov. 7, 2011, 2:13 PMMajor airline carriers plan to start using biofuels this week for the first time, led off by United Airlines' (UAL +1.1%) Houston to Chicago flight flown by its Continental Airlines subsidiary that it calls the first to use a "sustainable, advanced biofuel and traditional petroleum-derived jet fuel." | 6 Comments
Aug. 23, 2011, 7:19 AMThe government will ask the aerospace industry for ideas on how to spend $510M in funding for aviation biofuels. The White House says it is looking for a "one-to-one match" with the private sector, as it aims to find the right domestic plants to be pioneers for development in the commercial industry. | 3 Comments
Aug. 2, 2011, 9:05 AM
Jul. 7, 2011, 11:07 AMShares of Solazyme (SZYM +0.8%) trade higher a day after Goldman initiates as a Buy with a $31 price target. The firm's cutting-edge algae-based oil is drawing notice from an airline industry looking at biofuels after commercial airlines received the go-ahead from regulators to use organic fuel mixes. | Comment!
Jun. 16, 2011, 2:55 PM
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