Big Oil Launches Ad Campaign Against U.S. Biofuel Rule

Jul 16, 2013

Big Oil Launches Ad Campaign Against U.S. Biofuel Rule

By Amanda Brodhagen, Farms.com

The American Petroleum Institute (API) kicked-off an advertising campaign aimed at putting pressure on the White House to repeal a federal biofuel rule.

API’s push comes as the House and Senate are holding hearings to discuss the biofuel-blending rule, which would require 36-billion gallons of renewable fuels with conventional gasoline by 2022.

The ads show a car mechanic, who warns that fuels with high ethanol concentration could damage vehicle engines and may be problematic for warranties. The significant campaign was rolled about in radio, TV, print and online.

While API’s goal is to fully repeal the rule, it is unlikely to happen, but lowering the blend mandate could be a possibility. The biofuel industry is calling the ads misleading, arguing that API wants to maintain its monopoly on the fuel market.

Video: Is China Buying US Soybeans + USDA Nov 14th Crop Report could be “Game Changing”

After a week of a U.S./China trade truce, markets/trade is skeptical that we have not seen a signed agreement nor heard much from China or seen any details. There are rumors that China is buying soybean futures & not the physical. Trust in Trump?
12 MMT of U.S. soybean purchases by China by year-end is better than 0 but we all need to give it more time and give it a chance to unfold. China did lower the tariffs on Ag and is buying U.S. wheat and sorghum.
U.S. supreme court could rule against Trumps tariffs, but the Trump administration does have a plan B.
U.S. government shutdown is now the longest in history at 38 days.
But despite a U.S. government shutdown we will be getting a USDA November crop report next Friday and it could be “game changing.” If the USDA provides a bullish surprise with lower U.S. corn and soybean yields and ending stocks that are lower than expected both corn and soybean futures will break out above their ceilings at $4.35/bu and $11.35/bu respectively.
The funds continued their selling in live and feeder cattle futures on continued fears that the Trump administration want to lower U.S. beef prices. The fundamentals have not changed, only market psychology has.
Stocks markets continue to worry about a weak U.S. job market, but you can blame ChatGPT for that. In the future, we will have a more efficient, productive and growing economy with a higher unemployment rate until we have more skilled AI workers.
After 34 new record highs in the S & P 500 and 124 new records in the NASDAQ in 2025 we are back to a correction and investor profit taking as AI valuations may have gotten too stretched near-term ahead of NVDA’s 3rd quarter earnings announcement on Nov. 19th. But this is not an AI bubble.
75% of Tesla shareholders approved a $1 trillion pay package for Elon Musk!
It has rained in South America in the last 7 days, but both the American and European models agree that Central Brazil remains dry in the next 14-days!

U.S. Fluid Milk Consumption – The Glass is Half Empty

Wynne Meets with Ag Groups, Prepares for National Agriculture Ministers Meeting