No. 269, March 30, 2023

TOP STORY

Pictured L to R: Growth Energy VP of Market Development Jake Comer, Musket (Love's) GM Ethanol Paul Melton, NUVU Fuels Michigan CEO Carson Berger, Growth Energy CEO Emily Skor, Kum & Go Director of Retail Fuels Brad Petersen, and Growth Energy SVP of Regulatory Affairs Chris Bliley

Growth Energy welcomed top retail leaders from Musket/Love's, Kum & Go, and NUVU Fuels to DC this week (pictured above w/Growth Energy staff) for a fly-in focused exclusively on driving Congress to push EPA for an E15 emergency RVP waiver. The group met with lawmakers on both sides of the aisle (and in both chambers of Congress) to make it clear that ethanol supporters and retailers agree – we need E15 in 2023. Additionally, two retail representatives that joined us for the fly-in—Kum & Go Director of Retail Fuels Brad Petersen and Nuvu Fuels Michigan CEO Carson Berger—will also join Skor for a press conference about the importance of the emergency RVP waiver later this morning. 

You can help Growth Energy and the entire ethanol industry in this effort by contacting your own members of Congress and telling them to push EPA to deliver the emergency RVP waiver that will allow retailers to continue selling E15 through the summer. Click here to make your voice heard!

For more information, please contact Vice President of Government Affairs John Fuher. 

EIA WEEKLY ETHANOL DATA

Last week, domestic ethanol demand was 14.3 BGY, up 2.1% compared to a week ago. The EIA-reported gas demand was up 2.1% from last week, at 140.2 BGY.  The 4-week average ethanol and gas demand are 13.8 and 135.1 BGY.
 
Ethanol production was 15.4 BGY last week, up 0.6% versus the week before, and 0.4% less than the 4-week average in 2019. Midwest production was up 0.2% (+0.6 MG) versus a week ago, and average production in the other regions was up 9.3% (+1.2 MG). Capacity utilization of plants online was 88.6% overall, 90.3% in the Midwest, and 64.6% on average, elsewhere, excluding 1,355 MGY of capacity shutdown at 27 ethanol plants for other than maintenance (details on pg. 29). On an installed capacity basis, utilization was 83.3% overall, 88.2% in the Midwest and 39.0% in the other regions. 
 
Exports were an estimated 29.4 MG last week based on 130 MG of exports forecast for March. The EIA reported no ethanol imports last week.
 
Overall inventory was down 12.2 MG last week. EIA-counted stocks decreased 27.8 MG, and regional changes were: East (-1 MG), Gulf (-27 MG) and West (+0.04 MG) Coasts and the Midwest (-0.1 MG). In-transit inventory increased 15.6 MG.

Based on the total inventory of 1,937 MG on March 24th and the 4-week avg. domestic demand, there were 51.7 days of supply, down 0.1 days versus a week ago. Including the 4-week avg. of net exports, there were 46.6 days of supply, down 0.1 days versus a week ago.

For more information, please contact Vice President of Market Development Jake Comer.

WORKING FOR YOU

UPCOMING EVENTS

GetBioethanol NASCAR Paint Out

Dover, DE

April 30, 2023

Growth Energy Spring Fly-Ins

May 16-18, 2023

June 6-8, 2023

High Performance Low Carbon Liquid Fuels Summit

Indianapolis, IN

May 9-10, 2023

Fuel Ethanol Workshop (FEW)

Omaha, NE

June 12-14, 2023

IN GOVERNMENT AFFAIRS

Growth Energy and the biofuels industry need your help!

Amidst inflation and soaring gas prices, higher blends of biofuels like E15 have saved American drivers up to nearly $1 per gallon at the pump – all while reducing emissions and supporting economic growth across rural America. In fact, the popularity of higher bioethanol blends is rising faster than ever, and American drivers have now logged 40 billion miles on the road using E15.

Unfortunately, these cost savings could vanish from many markets on June 1, 2023, due to outdated federal restrictions on summer sales of higher ethanol blends.  

Last year, the Biden administration waived E15 restrictions on an emergency basis for the summer to deliver relief at the pump, and this year should be no different. As Russia’s war in Ukraine continues to drive price volatility at the pump, the administration should act swiftly to ensure uninterrupted access to lower-cost, lower-carbon E15. 

Join us in calling on lawmakers to press the Biden administration for action on an emergency RVP waiver ahead of the start of summer driving season.  

We look forward to hosting biofuels advocates in Washington, D.C. this spring for Congressional fly-in meetings! Participants will travel to Washington, D.C. to meet with Members of Congress and congressional staff on our industry's most pressing issues. Registration will launch shortly with a detailed agenda and hotel information, but be sure to hold the following dates:

May 16 - 18: Iowa, Kansas, Missouri, Nebraska, Texas, New York, Pennsylvania, and North Dakota

June 6 - 8: Colorado, Illinois, Indiana, Ohio, Michigan, Minnesota, South Dakota, Wisconsin

For more information, please contact Vice President of Government Affairs John Fuher.

IN MARKET DEVELOPMENT

This week, the Growth Energy Market Development team attended the National Advisory Group (NAG) Convenience Conference in Austin, Texas. NAG Convenience is the convenience store industry’s premier event for networking, industry education, and signature Information Exchanges, targeting smaller and mid-size retail chains. The conference discussed various issues from fuels, EVs, and loyalty programs, to the importance of culture, integrity, and authenticity, as convenience store leaders provided insight into their retail chains, mission, and company values.

One valuable piece of information emerging from the conference can be found in the chart below. According to a national survey study from Bluedot, 9 out of 10 consumers state that price impacts their decision when choosing a gas station location. As price continues to influence consumer decisions, we have the opportunity to not only educate consumers on UNL88 and the benefits of the fuel, but also educate retailers on how they can gain a competitive advantage and drive traffic, margins, and market basket.

For more information, please contact Senior Vice President of Market Development Mike Lorenz.

IN OUR ASSOCIATION

This week, Growth Energy VP of Market Development Kelly Manning & the Growth Energy Communications team attended the 35th annual Celebration of Ag event in Cedar Rapids, Iowa, where Growth Energy board member Richard Childress delivered a keynote speech that shared his connection to agriculture and highlighted the importance of biofuels.

This annual event, with an audience of nearly 1,000 people, provides an opportunity to thank those involved with all aspects of agribusiness. Attendees play a vital role in building and growing a dynamic agricultural industry in Iowa.

For more information, please contact Senior Vice President of Development Kelly Manning.

IN COMMUNICATIONS

This week, Growth Energy General Counsel Joe Kakesh participated in a panel discussion on Agri-Pulse Newsmakers to talk year-round E15 and the need for an emergency RVP waiver to keep E15 at the pump this summer. Hear the conversation below!

For more information, please contact Vice President of Communications Elizabeth Funderburk.

The Weekly Rundown is the weekly newsletter for Growth Energy's members. It is published weekly by the communications staff at Growth Energy. For more information, email team@growthenergy.org or visit our website GrowthEnergy.org. 

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