• 3 hours Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 7 hours Russia, Saudis Team Up To Boost Fracking Tech
  • 13 hours Conflicting News Spurs Doubt On Aramco IPO
  • 14 hours Exxon Starts Production At New Refinery In Texas
  • 15 hours Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 1 day Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 1 day Oil Gains Spur Growth In Canada’s Oil Cities
  • 1 day China To Take 5% Of Rosneft’s Output In New Deal
  • 1 day UAE Oil Giant Seeks Partnership For Possible IPO
  • 1 day Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 2 days VW Fails To Secure Critical Commodity For EVs
  • 2 days Enbridge Pipeline Expansion Finally Approved
  • 2 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 2 days OPEC Oil Deal Compliance Falls To 86%
  • 2 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 2 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 2 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 3 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 3 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 3 days Aramco Says No Plans To Shelve IPO
  • 5 days Trump Passes Iran Nuclear Deal Back to Congress
  • 5 days Texas Shutters More Coal-Fired Plants
  • 5 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 6 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 6 days Chevron Quits Australian Deepwater Oil Exploration
  • 6 days Europe Braces For End Of Iran Nuclear Deal
  • 6 days Renewable Energy Startup Powering Native American Protest Camp
  • 6 days Husky Energy Set To Restart Pipeline
  • 6 days Russia, Morocco Sign String Of Energy And Military Deals
  • 6 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 6 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 6 days India Needs Help To Boost Oil Production
  • 7 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 7 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 7 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 7 days District Judge Rules Dakota Access Can Continue Operating
  • 7 days Surprise Oil Inventory Build Shocks Markets
  • 7 days France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
  • 7 days Syria’s Kurds Aim To Control Oil-Rich Areas
  • 8 days Chinese Teapots Create $5B JV To Compete With State Firms
5 Players To Watch In The FinTech Revolution

5 Players To Watch In The FinTech Revolution

Artificial Intelligence and Blockchain tech…

James Burgess

James Burgess

James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…

More Info

The Law that Prevents Cheap Fuel for America

100 million acres of American farmland is used to grow corn, of which a third is then turned into approximately 14 billion gallons of cellulosic ethanol. Yes it helps to slightly reduce the carbon emissions of US exhausts, but as a huge cost.

Steven Sterin is the president of Celanese, a chemicals company from Dallas, and claims that his company has “the best gas-to-liquids and coal-to-liquids technology in the world.” Celanese makes its ethanol by tearing apart and recombining the hydrocarbons found in plentiful natural gas or coal.

If it works it could be revolutionary for the fuel industry. That “if” does not depend upon science or technology, but politics.

In 2007 Washington created the Renewable Fuel Standard law which mandated petrol refineries to blend a certain amount of renewable ethanol with the petroleum. This prevents Celanese and other producers of fossil fuel based ethanol from working in the US ethanol market. Currently the RFS requires that 15 billion gallons are blended each year, but that will increase to 36 billion gallons by 2020.

In 2006 George Bush declared that cellulosic ethanol made from wood chips would be “practical and competitive within six years,” but that hasn’t happened, despite himself and Obama investing $1.5 billion into grants and loan guarantees. In fact most of the companies benefitting from the government investment, such as Range Fuels, Cello Energy and E3 BioFuels, went bankrupt, and the survivors only produce about 6 million gallons per year.

The decision to allow fossil fuel based ethanol to contribute to the RFS targets is a difficult conflict for the corn dominated ethanol lobby. They don’t want the competition from ethanol produced by cheap gas, but they do want to help cut national oil imports.

By. James Burgess of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News