2 days ago
US Biofuel Makers Are Stuck in a Slump While Waiting for Trump Policy
The White House is gearing up to finally announce its new rules on biofuel blending, critical support for the industry that's underpinned American farming over the past two decades. But for some producers of diesel made from soybeans, the move won't be enough to rescue them from a months-long downturn that's led to plant closings and layoffs.
In Iowa, Western Dubuque Biodiesel LLC currently only has sales booked through August instead of the typical 21 months in advance. Houston-based Renewable Biofuels Inc., owner of the country's biggest plant making the soy-heavy fuel, is running at less than 30% capacity — and at a loss. And just this week, biodiesel firm Hero BX, based in Pennsylvania, was forced to go up for sale after it had slashed production down to zero and defaulted on a loan.
