But with global oil prices nearing $90 per barrel, a meat industry coalition is looking to get the government out of the renewable fuel industry. The meat industry is opposed to the expansion of the renewable fuels standard (RFS) for grain-based ethanol that was contained in the Senate-based version of the energy bill. While oil prices are approaching $90 per barrel, wholesale ethanol prices are falling, with the decline being attributed to increased supplies of ethanol on the market. NFU is also a strong supporter of the Senate- and House-passed energy bills, which respectively would expand and accelerate the renewable fuels standard and establish a renewable electricity standard that would mandate increasing amounts of electricity from renewable sources such as wind and biomass. read more
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