The recent announcement of an agreement reached to help support the biofuels industry and the Renewable Fuels Standard (RFS) was welcome news to many ethanol and biodiesel producers, including the folks at POET.
POET CEO Jeff Broin says this agreement provides an economic vitality to rural communities which has been lacking recently. It also restores integrity to the RFS.
Part of the agreement calls for a better level of accountability in the granting of small refinery exemptions in 2020. There are also guarantees the renewable volume obligation of 15 billion gallons will be met. It is going to help increase domestic corn demand again.
Broin says the ethanol industry needed this win in the battle for the gas tank.
Broin says if it wasn’t for the work of ethanol’s champions in Congress and in state governments, none of this would have happened. He said the only real loser in this deal is big oil. Broin says they have had their way far too long.