By Growth Energy Senior Vice President of Global Markets Craig Willis
Ethanol exports fell over 50 million gallons (mg) to 99 mg for May — the lowest for the year — as major markets like Brazil, Canada, and India all saw major cuts in imports of U.S. ethanol. However, smaller ethanol markets around the globe continue to show signs of stability as they increasingly adopt ethanol fuel into their fuel stream. These markets stand testament to the growing popularity of ethanol fuel globally and underscore the necessity of ensuring free and open trade for growing markets.
Markets like the Philippines, South Korea, Colombia, and the United Arab Emirates all saw an uptick in exports for May and played a large part in keeping the export outlook for the month stable — remaining on pace to match or exceed last year’s export numbers. Volatility in major export markets will always be a concern and exports to larger markets declined by 54 percent in May. As we have discussed in the past, growth in smaller markets may therefore play an increasingly central role in creating a stable global ethanol outlook. Smaller markets currently make up nearly 40 percent of overall exports for 2019, and that share may grow as the year continues.
Growth Energy is committed to working with our international partners to ensure that growing markets reach their full potential by creating open and free trade between nations. As countries around the globe turn to ethanol fuel to reach their economic and environmental goals, we must create the circumstances for them to do so. Both smaller and larger markets often do not have the domestic ethanol supply to achieve those goals in full, and American ethanol producers are well positioned to help them do so economically.
WASHINGTON, D.C. – Today, Growth Energy CEO Emily Skor submitted written comments on the Internal Revenue Service’s (IRS) proposed regulations under section 45Q, a performance-based tax credit for carbon capture projects. In her letter, Skor called on the agency to offer credit for carbon dioxide captured for food and beverage purposes, which would promote investment […]
This week in our “Conversations with Biofuels Champions” summer video series, our CEO Emily Skor visited with one of our top champs in the House of Representatives: U.S. Congresswoman Cheri Bustos of Illinois. Born in Springfield, Illinois, Congresswoman Cheri Bustos comes from a long line of farmers and teachers and a deep appreciation for being […]
CEO @GrowthEnergy tells IRS how #ethanol plants can lead the way on #carbon capture https://t.co/xiHAipVJpI
As @RepCheri Bustos says here, the biofuels industry has a cascading effect on agriculture — it promotes strong supply chains and multiplies rural economic output. Abuse of the Renewable Fuel Standard through refinery exemptions only serves to harm the ag economy. https://t.co/pvW7P4yZ4F
The future of fuel — increased engine performance, lowering our carbon footprint, and eliminating toxic fuel additives — is already here. At @EESI's Clean Energy Expo, Growth Energy SVP of Regulatory Affairs Chris Bliley laid out the benefits that expanding ethanol can bring. https://t.co/aW5v9A4prB
In a letter to the IRS, GE CEO @EmilySkor proposes applying the 45Q performance based carbon tax credit to carbon capture projects at ethanol plants as a way to incentivize and expand their further use. Biofuel producers are ready to do more! See the letter here: https://t.co/MtEDPF0jKy