Financial pressures mount for ethanol
Biofuel prices were sent reeling last week on projections of reduced driving because of the coronavirus combined with the ongoing battle over waivers, called small refinery exemptions (SREs), which have allowed petroleum refiners to skirt their requirements to blend biofuels under the Renewable Fuel Standard. The crude oil price war between Russia and Saudi Arabia has also put pressure on energy markets.
With ethanol prices dropping around $1 per gallon, the lowest prices in years, there was growing concern that some plants would be forced to shut down.
In a report...
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