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Trump administration's actions costing Middle America Dearly.. on Tariffs and Rin Waivers
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JonSCKs
Posted 6/30/2018 08:06 (#6842214)
Subject: Trump administration's actions costing Middle America Dearly.. on Tariffs and Rin Waivers


Because of the Trump administration's actions on combating unfair trading practices with America's Trading partners.. Retaliatory Tariffs are set to go into effect this next week..  Consequently Markets which America's Farmers rely upon have been Greatly Harmed

For Instance:

Since announcing proposed tariffs the Soybean market has PLUNGED over $2 a bushel from $10.80 the week of March 1st to a low close this week of $8.63.  The Over $2.00 collapse in prices on 4.3 billion bushels of yearly production has cost Farmers over $8.5 BILLION in Lost INCOME from the Market place.

Corn receipts have slid about $4 Billion nationwide on last year's 14.6 billion bushel crop

Wheat receipts have slid about a $ Billion and Livestock markets are also threatened.. As Cattle prices have fallen about $20 per cwt,

All totaled over $15 BILLION of income have been erased in the past 3 months of disrupted Trade prospects for US Farmers.

To ADD INSULT to INJURY Scott Pruitt's EPA has ILLEGALLY Issued RIN WAIVERS to some of the MOST PROFITABLE BUSINESSEs in the US right now..  as Petroleum Prices SHOOT UP Dramatically Increasing Costs for Farmers AND US Consumers.

Refiner Files Motion to Intervene in RFS Waivers Lawsuit


( https://www.dtnpf.com/agriculture/web/ag/perspectives/blogs/ethanol-blog/blog-post/2018/06/29/refiner-files-motion-intervene-rfs )

A number of ethanol and agriculture industry groups point to HollyFrontier Corp.'s small refinery waiver from the Renewable Fuel Standard as an example of why something is amiss with how the EPA uses the waiver system, in a recent lawsuit filed in the U.S. Circuit Court of Appeals for the 10th Circuit in Denver.

Now, HollyFrontier is attempting to intervene in the case filed on May 30, 2018.

"HollyFrontier has a direct and substantial interest in the outcome of this proceeding," the company said in a motion to intervene filed on Thursday.

"HollyFrontier's interest in this proceeding could not be more direct or more substantial. The petition seeks to challenge the particular economic hardship exemptions granted to HollyFrontier by EPA, in consultation with the department of energy."

The original lawsuit filed by the Renewable Fuels Association, National Corn Growers Association, American Coalition for Ethanol and National Farmers Union, with support of Farmers Union Enterprises, challenged EPA on three recent waivers granted. Those groups argue the agency did not publish in the Federal Register what were final actions by the agency.

 

In the petition, the groups said they are challenging agency actions made "under unusually clandestine proceedings" to exempt refineries in Wynnewood, Oklahoma; Cheyenne, Wyoming; and Woods Cross, Utah.

"Because EPA never published the exemption letters or determinations, in the Federal Register or otherwise, and the coalition thus does not have actual notice of EPA's determinations within the meaning of the statute, the 60-day period for filing a petition for review did not begin to run and the time period set forth for unpublished determinations is not applicable to the Coalition," the petition said.

The Wynnewood refinery is owned by a subsidiary of Carl Ichan's CVR Energy, and the Cheyenne and Woods Cross refineries are owned by HollyFrontier.

The EPA granted RFS waivers for 2016 and 2017 totaling 2.25 billion gallons. Indications are the agency has received what would be a record number of waiver requests for 2018, including from large oil companies.

Rather than challenge the agency's authority to grant waivers, the groups said the three refineries named are examples of the agency's "abuses" of the authority.

"EPA should be forced to explain why an otherwise profitable refinery faces disproportionate hardship from compliance with the RFS," the groups said in a news release.

"We want EPA to explain why it is reasonable for HollyFrontier, which apparently could not afford to comply with the RFS, could nonetheless afford to undertake a $1 billion stock share repurchase program during the same time -- and that's before the company received over $300 million in tax cuts last year."

Refinery interests have flooded the EPA with waiver requests following a 10th Circuit Court of Appeals ruling. The court ruled against the idea that hardship waivers were only available to refineries likely forced to close if they had to comply with the RFS.

EPA has taken heat on how it defines "hardship" when it granted waivers. The ethanol industry and others have maintained the waivers were not designed for oil companies that report billions of dollars in profits.

Large companies like Marathon Petroleum are taking their chances in filing for waivers, largely based on recent agency action to step up the number of waivers granted in the past two years. The wave of requests has continued based on a couple of things.

 

The law only allows refiners that produce 75,000 barrels per day or less to qualify for waivers. Marathon's smallest refinery produces about 93,000 barrels per day. Other large refiners have filed for waivers.

So HOW is it POSSIBLE that at a time when US Farmers are being asked to Sacrifice SO MUCH that the Carl Icahn's of the Political World are Getting Waivers to Sell More EXPENSIVE PETROLEUM Products as Petroleum PRICES SKYROCKET where as the RBOB vs ETHANOL Spread has EXPLODED OUT to $.72 Costing the US Consumer on 2.5 BILLION GALLONS of WAIVED Fuels..  ALMOST $2 Billion More..??

This IS NOT RIGHT..
NOT FAIR..
and NOT GOING to be TOLERATED in FARM COUNTRY!!




Edited by JonSCKs 6/30/2018 08:15
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