The Fight for Renewables Rages On, Despite Drought
Has renewable fuel development in the U.S. hit a brick wall, or at least a fork in the road? After all, recent developments seem to point in that direction.
The U.S. Environmental Protection Agency (EPA) is looking at waiving the Renewable Fuels Standard (RFS) due to the recent harsh drought conditions in the mid-western U.S. this summer, which have driven up corn prices. At one point they hit nearly $8.50 a bushel â€“ pretty far off the July forecast of $5.40 to $6.40.
Now, while that maybe good for commodity traders and rich agribusiness, itâ€™s certainly not good for supplying conventional biofuels and food because the prices will be passed along to the consumer.
Meanwhile, despite seeing some progress on the advanced biofuel market with algae and various other non-food based fuels, the development of them remains stagnant.
Article continues at ENN affiliate, Triple Pundit
Drought image via Shutterstock