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While oil companies such as Exxon Mobil Corp. and Royal Dutch Shell Plc eliminate jobs and curb capital spending to cope with prices that have fallen two-thirds in 18 months, renewables are enjoying a renaissance underpinned by rules designed to curb fossil-fuel emissions damaging the atmosphere.
The law, designed to shrink the nation’s dependence on foreign crude and curb greenhouse-gas emissions, has pitted oil companies against farmers in the corn-rich Midwest.
Representatives of the oil industry’s biggest trade group, the American Petroleum Institute, were scheduled to meet with White House officials Friday to argue that ethanol quotas should be kept below the current 10 percent threshold acceptable for use in all cars and trucks.
If the cost of crude remains near $50 a barrel until the end of the decade, cheaper conventional fuels would hold back the development of electric cars and biofuels that are helping curb carbon emissions, IEA said.
The Environmental Working Group paper could add fuel to an argument that the renewable fuel standard is too reliant on corn-based ethanol, instead of sophisticated next-generation alternatives that have been tougher to commercialize.
The $225 million refinery in central Iowa is touted as the world’s largest cellulosic ethanol plant, which is designed to make 30 million gallons annually once it’s in full production next year.
Before the Senate Banking Committee votes on legislation to lift the oil export ban on Thursday, the panel may consider whether to axe some U.S. biofuel mandates.
Innovative systems of collecting energy from the environment are pushing the boundaries of the current renewable energy landscape, fueling the growth of the market and overall acceptance of green energy as a form of energy production. From pocket-sized wind turbines to solar-paneled bike paths, the green energy movement is reaching new heights of innovative technologies […]
The rules further strengthen California’s toughest-in-the-nation carbon emissions standards, but oil producers warn the changes could drive up costs for consumers at the gas pump.
United said Tuesday that the investment in Fulcrum BioEnergy Inc. could provide it with up to 180 million gallons of fuel per year.