Presentation is loading. Please wait.

Presentation is loading. Please wait.

A THREAT TO RURAL AMERICA Overview of EPA Proposed Rule.

Similar presentations

Presentation on theme: "A THREAT TO RURAL AMERICA Overview of EPA Proposed Rule."— Presentation transcript:

1 A THREAT TO RURAL AMERICA Overview of EPA Proposed Rule

2 POET BIOREFINING ▪ One of the world’s largest ethanol producers ▪ Other products include animal feed and corn oil ▪ Leading the industry in cellulosic production ▪ Provides jobs ▪ Increases tax revenue ▪ Supports local economies ▪ Provide cleaner, affordable alternative to fossil fuels ▪ Reduce dependence on foreign oil ▪ Revitalize global agriculture

3 LOCAL IMPACT ▪ POET Biorefining- Corning +41 jobs +66 million gallons of ethanol produced +190,000 tons of DDGs sold +$492,843 taxes paid +22 million bushels of corn purchased

4 COMMUNITY SUPPORT ▪ Adams Co Aquatic Center ▪ Adams Co Conservation Foundation ▪ ACEDC ▪ Adams County Chamber of Commerce ▪ Corning Schools ▪ SW Valley Schools ▪ Corning Opera House ▪ Johnny Carson House ▪ Corning Sports Boosters ▪ Corning Holiday Lights Project ▪ FFA ▪ 4-H ▪ Adams Co Sheriff’s Office K-9 Fund ▪ Corning Fire Department ▪ Adams Co Emergency Mgmt ▪ Adams Co Rescue Service ▪ Adams Co Speedway

5 WHY ETHANOL? ▪ RFS created in 2007 and regulated by the Environmental Protection Agency (EPA) ▪ Created a requirement that oil blend ethanol into their fuel supply each year through 2022 ▪ Intent of the RFS: +Reduce greenhouse gas emissions +Decrease dependence on foreign oil +Lower price at the pump

6 BENEFITS ▪ More than 400,000 US jobs. (An additional 136,000 jobs would be created by moving to E15) ▪ Grain ethanol has 59% fewer greenhouse gas emissions compared to conventional gasoline ▪ In 2011, ethanol reduced wholesale gasoline prices by an average of $1.09 per gallon

7 2014 RVO PROPOSED RULE ▪ In November, EPA drastically cut the required volumes of corn ethanol for 2014 ▪ RVO reduced corn ethanol from 13.8 billion gallons down to 13.01 billion gallons for 2014 ▪ This is the first year they have proposed cutting the volumes. Why? Because the oil industry has not made infrastructure investments to comply with the law. ▪ Public comments can be submitted during 60-day period

8 EPA MAKES BIG OIL PROFITS A PRIORITY "In 2007, when the RFS was created, the homework assignment given to the ethanol industry was to create clean fuel and make those gallons available for purchase. Oil was responsible to make sure those gallons are delivered to consumers. At no point was it indicated that the ethanol industry was responsible to develop the infrastructure and distribution network. Any work we have done in this area to help big oil meet its obligation has been extra credit. So despite doing an A+ job while oil is getting an F, we are the ones being penalized by the proposal.” -Jeff Broin, Executive Chairman

9 A CHINK IN THE ARMOR A quote from Bob Greco, Downstream Director at the American Petroleum Institute….. “EPA’s plan represents a step in the right direction, but doesn’t go far enough. We will continue to call on Congress to repeal the RFS….”


11 POTENTIAL HARM TO INDUSTRY  Reduced volumes would be damaging to agriculture and biofuels industries  More than a 500M bushel drop in corn demand  $.80 - $1.00 drop in corn prices/bushel (Deutsche Bank)  Higher prices at the pump  Higher demand for foreign oil  Reduced incentive for higher blends and infrastructure  Loss in multi-billion dollar investments in next- generation biofuels

12 POTENTIAL HARM TO RURAL AMERICA  Continued reduced volumes would be damaging to Rural America:  Reduced sales = reduced ability to support charities and community projects  Fewer jobs for the community  Less taxes paid  Loss of expansion opportunities including cellulosic  Closure of plants

13 WHAT CAN YOU DO? ▪ Submit comments: By law, EPA is required to read every comment. ▪ Spread the word: Ask your friends, family, and co-workers to submit comments. ▪ Engage leaders: Request local chambers, economic development, and civic groups to engage their members. ▪ Join POET leadership for a meeting with your local newspaper’s editorial board in January.


Download ppt "A THREAT TO RURAL AMERICA Overview of EPA Proposed Rule."

Similar presentations

Ads by Google