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DES MOINES – Iowa Governor Terry Branstad and Secretary of Agriculture Bill Northey today encouraged Iowa petroleum retailers interested in participating in the “Fueling our Future” pilot project to consider applying for cost share funding. A total of $250,000 in federal funds are available through the Iowa Renewable Fuels Infrastructure Board to support projects that will increase the usage of higher blends of both ethanol and biodiesel.
“The renewable fuels industry has been a great asset to Iowa’s economy and making higher blends of renewable fuels will give customers greater access to clean burning, home-grown renewable fuels,” Branstad said. “It is important we help create opportunities for customers to see the benefits of higher blends of ethanol and biodiesel.”
The Fueling Our Future pilot project is designed to reduce particulate matter (PM-2.5) vehicle emissions by increasing the use of higher blends of bio-based fuels, specifically ethanol and biodiesel. Applications must be submitted by Feb. 7, 2014 and will be reviewed by the Iowa Renewable Fuels Infrastructure Program board of directors at their quarterly meeting later that month.
All Iowa petroleum retailers offering fuel to the general public are eligible to apply. Applicants must provide a minimum 50% match and the total assistance available is capped at $250,000 of matching federal funds. Funds will be targeted equally to the most outstanding proposal focused on bio-diesel (B-5 blends and higher) and ethanol (especially E-30). A single proposal that includes both of these bio-renewable products on the same site could be selected.
“Iowa is fortunate to have many fuel retailers committed to renewable fuels and this pilot program is an exciting opportunity for them to demonstrate their ideas for creating a modern fueling site focused on higher blends of renewable fuels,” Northey said. “Higher blends of both ethanol and biodiesel have the potential to bring significant benefits to consumers, the environment and our rural economy and I’m excited to see the proposals that come forward.”
Applicants may also be eligible for grants through the current Renewable Fuels Infrastructure Program which awards up to $50,000 – or 70% of total installation costs toward ethanol and biodiesel installations.
Applicants should be aware that there will be a significant research component for this pilot project. Data collected will be assessed and used to assist with determining optimal market effectiveness of mid-level renewable fuel blends. As a result, fuel sales data from the selected site will be required and in the event of the conversion of a current retail fueling site, data access to previous sales volume will be requested. Access to the site for consumer surveys will be required.
All applicants will need to complete the formal application for the project and will need to attach a short project outline. Applicants may also be asked to present on their proposal at the Board’s February meeting.
A copy of the application and additional information can be found at www.IowaAgriculture.gov by clicking on the “Renewable Fuels Infrastructure Program” link under “Hot Topics.” For more information, interested parties can also contact Harold Hommes with the Iowa Department of Agriculture and Land Stewardship at Harold.Hommes@IowaAgriculture.gov or by calling 515-242-6237.
DES MOINES – Ethanol prices climbed $.43 this week, closing at $2.35.
Crude Oil Summary
The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $4.82 per barrel over last week, currently at $97.04.
Brent crude oil rose $.86 this week, currently at $111.90.
One year ago WTI crude sold for $88.50 and Brent crude was at $109.99.
As of Tuesday, December 3rd, the price of regular unleaded gasoline averaged $3.12 across Iowa according to AAA. This is down $.02 from last week and down $.17 from one year ago. The national average on Tuesday was $3.26, down $.03 from last week’s price.
Retail diesel fuel prices in Iowa rose $.02 on the Tuesday report with a statewide average of $3.77. One year ago diesel prices averaged $3.87 in Iowa. The current Iowa diesel average is $.08 per gallon lower than the national average of $3.85.
Wholesale ethanol prices rose $.43 this week, closing at $2.35. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $2.99 per gallon, down $.03 from last week’s price and down $.22 from one year ago.
Propane prices rose a penny compared to last week’s price with a statewide average of $1.69 per gallon. Home heating oil fell a penny from last week’s figures, ending with a statewide average of $3.48. Natural Gas prices in Iowa were down $.02 from last week’s report, ending the week at $3.83 / MMbtu.
JOHNSTON, IOWA – The Iowa Renewable Fuels Association (IRFA) today announced Renewable Fuels Association (RFA) President and CEO Bob Dinneen will give the Industry keynote address at the 8th Annual Iowa Renewable Fuels Summit and Trade Show taking place at The Meadows Conference Center at Prairie Meadows in Altoona, Iowa, on January 28, 2014.
Under Dinneen’s leadership for more than two decades, the RFA has been a driving force behind creating a dynamic and robust national ethanol industry. Dinneen was instrumental in enacting the Renewable Fuel Standard (RFS) in 2005 and, two years later, in expanding the RFS to 36 billion gallons by 2022.
“As the ethanol industry faces one of its most challenging times in history, we’re fortunate to have RFA and Bob Dinneen leading the charge to preserve and advance the federal Renewable Fuel Standard,” stated Rick Schwarck, IRFA President and President of Absolute Energy in St. Ansgar. “Powerful forces stand in staunch opposition to the RFS and development of next generation ethanol. Summit attendees are lucky to hear the latest RFS and ethanol insight from a top insider like Dinneen.”
The Renewable Fuels Summit and Trade Show is free and open to the public. To register and learn about sponsorship and trade show opportunities, please visit: http://iowarfa.org/2014Summit.php.
Iowa is the leader in renewable fuels production. Iowa has 42 ethanol refineries capable of producing over 3.8 billion gallons annually, with three cellulosic ethanol facilities currently under construction. In addition, Iowa has 12 biodiesel facilities with the capacity to produce nearly 315 million gallons annually.
The Iowa Renewable Fuels Association was formed in 2002 to represent the state’s liquid renewable fuels industry. The trade group fosters the development and growth of the renewable fuels industry in Iowa through education, promotion, legislation and infrastructure development.
For more information, visit the Iowa Renewable Fuels Association website at: www.IowaRFA.org
Follow this link for the full story: www.unitedsoybeanboard.org/article/wintertime-fuel-handling