A group of eight Democratic senators on Tuesday called upon three federal departments to investigate whether billionaire investor — and adviser to President Donald Trump — Carl Icahn violated insider trading laws for his activity in the renewable fuel credits market.
U.S. Secretary of Agriculture Tom Vilsack announced on Thursday that his department will award nearly two dozen states with millions of dollars to build the gas pumps and other infrastructure needed to supply American drivers with more renewable fuel.
The federal renewable fuel policy has had a big impact on carbon emissions, according to an industry report. In its report released on Aug. 24, the Biotechnology Industry Organization estimated that the policy has reduced more than 580 million metric tons of carbon emissions over 10 years.
With major cuts in funding, the future is unclear for cellulosic biofuels, an energy source researchers have called “the most promising” of all biofuels. Biofuels are an alternative energy source to petroleum fuel and can be produced from corn, oil or plant material. The fuels are appealing to those looking to reduce carbon emissions and decrease reliance on foreign oil.
Every time you put gas in your car, you’re adding a bit of renewable fuel to your tank, as well. You may not notice since renewable fuels are government-mandated, and they only save you a few pennies per gallon of gasoline, according to industry experts. But behind the scenes, there is complex policy that goes into adding that renewable fuel into your gasoline. Here are some pieces of information that break down how renewable fuel production works.
The delay in proposed renewable fuel minimums by the Environmental Protection Agency may have hindered the future of advanced biofuels, the kind of cellulosic ethanol formulas made from tall grasses and stalks. Although researchers tout advanced biofuels’ environmental benefits, the uncertain policy has caused some in the agriculture industry to shy away from them.
Industry experts expect corn ethanol production to stay strong despite a proposal to reduce federal renewable fuel requirements. The Environmental Protection Agency proposed to reduce renewable fuel mandates for 2014 through 2016, lessening what it initially slated in 2005.