Farms.com Home   News

ICGA and Oil Industry Sue EPA

The IL Corn Growers Association (ICGA) joined 12 other state corn organizations, and oil industry representatives to sue the Environmental Protection Agency (EPA) for its inequitable and costly electrification of America’s vehicle fleet.  

The National Corn Growers Association (NCGA), 25 state attorneys generals, the American Petrochemical Institute (API), the American Fuel and Petrochemical Manufactures (AFPM), auto dealerships, and Valero were among the organizations who filed petitions against the agency.  

“In its multipollutant rule, the EPA incentivized the electric vehicle industry for its ability to reduce carbon but refused to acknowledge the positive impact of renewable fuels,” ICGA President Dave Rylander said. “Ethanol is currently decarbonizing our atmosphere. Why are we penalizing our current solution for a technology that is not obtainable at its proposed level, today?”  

The oil and agriculture industries request an approach that levels the playing field for all vehicle technologies and fuels to reduce emissions. The EPA’s summary predicts the final rule, released in March, will cost $870 billion in vehicle technology. ICGA’s petition argues the rule’s astronomical price tag requires congressional authorization.

Click here to see more...

Trending Video

U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again


The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!