This may have been one of the best examples of ?hurry up and wait? we have ever seen in agriculture. It only took about a year, but the USDA is finally releasing the aid it promised the biofuels industry in June of last year. Last year?s announcement was already a year late and millions of dollars short when it was announced a year after it was promised and long after other industries had used their pandemic relief money.
Renewable Fuels Association President & CEO Geoff Cooper talks about the fact that the money is finally in the pipeline two years after being promised.
Cooper says that the $700 million is greatly appreciated, but still does not cover the total losses brought on by the COVID-19 pandemic.
On Friday, the EPA finally settled the Renewable Volume Obligations for blending biofuels. All ag and biofuels leaders were mostly pleased with the announcement. Cooper talks about the good and the bad with the EPA announcement.
Cooper reminds us that the EPA does not have the authority to retroactively change RVOs that were already set.
